Cenvat debit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2012 Dear All,

Am doing my CA Articleship and i can hear many of the persons working with our clients saying that on clearence of goods, they would debit the CENVAT credit account.How can this be done.I mean, is there any place where will debit CENVAT Account like making payment through bank????!!! I can't understand.Pls do help

RENGARAJ R.K

RENGARAJ R.K (Expert)
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20 July 2012 There is a Register called RG23A Part II where the eligible cenvat accumulated on the purchase of raw materials and capital goods will be debited. This register is maintained for input credit availability and utilisation of the cenvat.