Cenvat credit reversal

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2014 As per Cenvat Credit rules,when inputs are cleared as such Credit availed is required to be reversed. But what is the duty payable or credit to be reversed when the inputs are cleared at a higher value?

Arun Kumar Singh

Arun Kumar Singh (Expert)
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27 March 2014 If you have taken the cenvat credit then at the time of removal of goods you need to issue sale invoice and duty and value of the goods will be same.