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Capital goods return

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 June 2012 Dear Sir,

we would like to ask about,

When we purchase any capital goods, we claim 50% cenvat in current f.y. and balance 50% credit in next year.

we want to return some capital goods items to supplier, for that, we need to raise invoice to supplier as purchase return item, and return cenvat portion. is this right practice against excise, please reply
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CA Chandra Kishore Bajpai

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CA Chandra Kishore Bajpai (Expert)
03 June 2012 In case of Goods Return as such, cenvat credit takenwill have to be reversed

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