17 October 2014
we are recently take excise registration but till date our production not start
we r recd some bill including excises tax
1.how we book this bill 2.can we use as a cevat credit 3.which excise bill are take or not take excise credit 4.for production we buy a foaming machine @ 7lakh with including excise & vat how to book this bill with excise 5.it is necessary to give excise code, were we get all excise code for particular items
18 October 2014
You can take benefit of Cenvat from the Date of Excise Registration. Cenvat on Machinery you should claim 50% benefit in current year & remaining 50% on next year i.e on 01/04.
CAclubindia
