Cenvat

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2015 .AN ASSESEE CLEARED HIS MANUFACURED FINAL PRODUCT DURING JUNE 2013.THE DUTY PAYBLE FOR JUNE 2013 ON FINAL PRODUCT IS AS FOLLOWS BASIC RS 2LAKH EDUCATION CESS AS APPLICABLE .DURING THE MONTH HE RECEIVED VARIOUS INPUTS ON WHICH DUTY PAID BY SUPPLIER OF I/P WAS AS FOLLOWS- BED RS 50000 EDUCESS RS1000 SHES RS 500, EXCISE DUTY PAID ON CAPITAL GOODS RECEVED DURING MONTH WAS AS FOLLOWS : SERVICE TAX RS 10000 EDUCESS RS 200,SHEC RS 100. HOW MUCH DUTY THE ASSESEE WILL BE REQUIRED TO PAY BY GAR-7 CHALLAN FOR THE MONTH OF JUNE 2013,IF THE ASSESS HAD NO OPENG BAL IN PLA A/C??? WHAT IS THE LAST DATE FOR PAYMENT???? SOME ONE PLEASE HELP ME TO SOLVE DIS QUSTN

Dipesh

Dipesh (Expert)
Follow

16 December 2015 You have to pay through PLA amt of Rs. 144200/- i.e. BED-140000/- EC-2800/-, S&H Ec-1400/-.
Last date of payment for June 2013 is 05th July.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2015 sir how u did calulation will u pls provide steps

Upgrade to CAclubindia Pro. Subscribe Now!

Dipesh

Dipesh (Expert)
Follow

16 December 2015 payable - Input Cenvat ( i.e.input credit + Service tax input + capital goods input credit)

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2015 206000-(51500+6180+10300)= 138020 ???where did i go wrong sir

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2015 sir please help me i am getting a diff of 6180 rs

Dipesh

Dipesh (Expert)
Follow

16 December 2015 You mentioned BED is Rs. 200000/- Input Credit is Rs. 50000/- & Service Tax is Rs. 10000/- & cess extra applicable @ rate of duty is 12.36 % then Duty payble is Rs. 206000/- Input Credit is Rs. 51500/- & Service tax credit is Rs. 10300/- then actual payable through GAR is Rs. 144200/-.
Where is Amount refer as 6180/- is this CG Credit then you not mentioned in your query.

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2015 SORRY SIR WHILE TYNG I SKIPPED THAT CAPITAL GOODS THAT SENTENCE IS
EXCISE DUTY PAID ON CAPITAL GOODS RECEVED DURING MONTH WAS AS FOLLOWS : BED 12000 ECESS RS 240 SHEC RS 120.
SERVICE TAX PAID ON I/P SERVICES ARE AS FOLLOWS:
SERVICE TAX RS 10000 EDUCESS RS 200,SHEC RS 100.
HOW MUCH DUTY THE ASSESEE WILL BE REQUIRED TO PAY BY GAR-7 CHALLAN FOR THE MONTH OF JUNE 2013,IF THE ASSESS HAD NO OPENG BAL IN PLA A/C??? WHAT IS THE LAST DATE FOR PAYMENT????

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2015 IN THIS CASE WHAT IS THE ANS SIR ,IS IT 138020??? 144200-6180

Dipesh

Dipesh (Expert)
Follow

16 December 2015 Pls describe your exact question ??? If Duty payable is Rs. 206000/- input Credit is Rs. 51500/- Input Service tax is 10300/- Input Credit of CG is Rs. 12360/- then Payable through GAR is Rs. 131840/-

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2015 YES SIR INPUT CR OF CG 12360 I TOOK IT 50%...I THOUGHT CG SHOULD BE TAKEN AT 50%

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2015 SIR Y CG IS 100% WHY NOT 50%????

Upgrade to CAclubindia Pro. Subscribe Now!

Dipesh

Dipesh (Expert)
Follow

17 December 2015 You have to take 50% Cenvat Credit of capital goods in current year & rest 50% in next FY. If you couldn't avail 50% credit in current year then you can take 100% in next FY. You should make 50% cenvat entry in RG23C Part -II then if you avail credit on Capital goods.

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2015 sir in this case how much we have to take??? 50% or 100%

Dipesh

Dipesh (Expert)
Follow

17 December 2015 i.e. In FY. 13-14 you can avail 50% Credit of capital goods otherwise in FY 14-15 you can avail 100% if you couldn't avail 50% in FY. 13-14. If capital goods purchased in FY. 13-14 and in same year you want to take credit & total Credit amount is 12360/- ( suppose its 100%) then you can avail 50% of 12360/- or if capital goods purchased in 12-13 & you couldn't avail 50% credit then in FY. 13-14 you can avail full credit i.e. 100% Credit of CG.

Message likes : 1 times

Upgrade to CAclubindia Pro. Subscribe Now!