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Cenvat Credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2010 Invoice has been raised with excise duty to party and goods has been delivered to party...after one month a credit note has to be issued to party for rectification of higher rate wrongly charged. what will be the effect of excise duty on credit note whether credit note has to be issued inclusive of duty, if yes then what will be the impact of cenvat on both parties...
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Rajesh Kumar

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Rajesh Kumar (Expert)
30 November 2010 The party is entitled to cenvat of higher excise duty paid.
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 November 2010 Whether credit note has to issue without reversal of duty....
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Rajesh Kumar

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Rajesh Kumar (Expert)
01 December 2010 Yes

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