Cenvat credit
This query is : Resolved
21 January 2012
our co.is mfg diff type of dyes and sell local and export.we are also import some raw material from diff counties. we paid Basic Duty 10 %, CVD 7.5%,Additional Duty 4%. my query is in RG 23 which duty we mention as cenvat credit. currently we are taking all three in our rg 23 as basic duty, is it true?
22 January 2012
no you will take the cenvat credit on - 7.5% of CVD, then 3% on CVD & 4% Additional Duty and raiminning others duty to be booked as a Exp you can't take the cr. on it..
Rgds,
Dharmesh Modi..
Rgds,
Dharmesh Modi..
23 January 2012
Thank you Mr.Dharmesh Modi for solved my query.you clear my doubt
But,we are mention all duties in RG and till date there is no objection by department. is it possible?
when department noticed this type of things done in books.which type of steps will be taken by dept.
But,we are mention all duties in RG and till date there is no objection by department. is it possible?
when department noticed this type of things done in books.which type of steps will be taken by dept.
23 January 2012
yes it is possible bcz. you have not mentioned separate duty in RG 23 -A or C means you have mentioned compiled amount so not traceable but it is possible at the time of CERA Audit,2000 auditor will be observed this things and a result he will be told you for reverse this amount (make Debit Entry in RG-23 Reg.) and amount pay through PLA or Cash for 1.5% PM Interest...
Rgds,
Dharmesh Modi..
Rgds,
Dharmesh Modi..
23 January 2012
yes it is possible bcz. you have not mentioned separate duty in RG 23 -A or C means you have mentioned compiled amount so not traceable but it is possible at the time of CERA Audit,2000 auditor will be observed this things and a result he will be told you for reverse this amount (make Debit Entry in RG-23 Reg.) and amount pay through PLA or Cash for 1.5% PM Interest...
Rgds,
Dharmesh Modi..
Rgds,
Dharmesh Modi..
23 January 2012
yes it is possible bcz. you have not mentioned separate duty in RG 23 -A or C means you have mentioned compiled amount so not traceable but it is possible at the time of CERA Audit,2000 auditor will be observed this things and a result he will be told you for reverse this amount (make Debit Entry in RG-23 Reg.) and amount pay through PLA or Cash for 1.5% PM Interest...
Rgds,
Dharmesh Modi..
Rgds,
Dharmesh Modi..
23 January 2012
yes it is possible bcz. you have not mentioned separate duty in RG 23 -A or C means you have mentioned compiled amount so not traceable but it is possible at the time of CERA Audit,2000 auditor will be observed this things and a result he will be told you for reverse this amount (make Debit Entry in RG-23 Reg.) and amount pay through PLA or Cash for 1.5% PM Interest...
Rgds,
Dharmesh Modi..
Rgds,
Dharmesh Modi..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Confusion around Form 26QB fields
- Sale of property furniture sale
- Filing of Form 10BB instead of Filing Form 10B
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
