09 July 2009
Hi all, i want to know that what treatment should in Excise record of Debit/Credit Note. eg. i have billed to party with excess amount and invoice contaning Excise duty and sale tax as well, later on i realized that it was excess billed, hence i raised a credit note to party as a result now my excise duty become lesser than earlier billed amount. now i want to know can i take cenvat credit or reduce my excise expenses in excise records on basis of this credit note? if yes kindly let me know under which provision? Please help ASAP.
12 July 2009
Excise duty credit would not be admissible. If you were to take a certificate that the duty credit has not been availed by the cusotmer then possible refund application can be made. Unless amount subsntantial forget about it.
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