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..
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...
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...
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...
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...
CAclubindia
