03 June 2013
Quarie 1 In Audit Absorvation in our co., in one financial year we have take 100% cenvat credit & it is not under SSI Unit . While audit is going on auditor retificated and they are telling to reserve the Cenvat amount & to pay intrest. now my query is if I taken in one financial 100% on capital goods I should to reverse excise & to pay intrest also. or Quarie 2 I ll pay intrest part & I ll show in return. & I ll not reverse excise amount . it ll be any problem to us.
I need solution & and I required any judgement made on this Quaries
04 June 2013
You should take the 50% cenvat credit on capital goods in first year and 50% credit in next year. But now you will pay the interest on 50% of the cenvat credit amount.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
17 June 2013
Sir i should reverse cenvat amount also