24 June 2011
HOW TO CLAIM CREDIT OF EXCISE IMPOSED(ON PURCHASE OF GOODS ) WHEN THERE IS 100% REJECTION OF GOODS .WHAT WOULD BE THE PROCEDURE . WHAT DOCUMENTS SHOULD WE SEND BACK TO THE SUPPLIER .
24 June 2011
Cenvat credit can be availed immediately on inputs received in factory and must be related directly or indirectly to manufacturing of final products.If goods received & 100% rejection take place then full amount of availed cenvat credit have to be reversed.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
25 June 2011
I agree that full amount of cenvat credit be reversed but can you please tell me the procedure of doing so i.e what formalities (documentary) have to be complied with in this regard .....
26 June 2011
Reversal to be done in RG23A Part II register. Separate Inv:copies /chalan may be raised with rejection note & to tally with 100% acceptance qty.
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