EXCISE AUDIT.

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
04 February 2011 Dear Experts,
I am working in a Manufacturing Unit.We are Dealing with bank such as LC charges, Bill Discounting etc. Banks has taken SERVICE TAX charges from us. Bank give us a memo with all details of Service Tax. We are taking CENVAT credit the same Service Tax Amount and utilized it for making payment of Excise Duty. Now Excise Auditor are not allow us to take CREDIT, because the Memo issued by bank in not a Invoice.
Hence I request you kindly advice me regarding this matter.
Thanks and regards

04 February 2011 First you confirm, whether you are accounting the total bank charges in your books of account, if it is , cenvet credit is not allowed.

Secondly, Memo is not considered as invoice, so in this case observation of auditor is correct.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
04 February 2011 Dear Mr.Shailesh,
I accounting is only for Service Tax amount and not total charges
I have requested Bank, they are not agree to make invoice. But in memo it is mentioned that the amount of service, Service tax etc. In this situation what to do?




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries