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capital goods destroyed in a fire accident

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 February 2010 Sir,

We have purchased capital goods and CENVAT input credit is availed.
Now the capital goods destroyed in a fire accident.
I want to know is it necessary to reverse the cenvat input credit utilized.
what is accounting treatment please give the accuounting entry
Thanking you
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Rajesh Kumar

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Rajesh Kumar (Expert)
11 February 2010 No, there is no requirement of reversal of credit.

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