12 June 2009
while doing a stock valuation, we have make 100% write off provision on Non-moving items.Now my query is that, as per CENVAT credit rule 2004(rule no-3(5b), i have to pay the excise duty on such written off amount ? & when in future, while using such items in production process I can take a CENVAT credit ?.... Plz Help Some Body........
11 September 2009
According to 16/2009 C.Ex.Notification you have to reverse the Cenvat. In future if you use the material for production you can take cenvat.
CAclubindia
