Amber Jain (Article Assistant) (206 Points)
29 April 2013Hello everyone,
I wanted to know that cenvat credit is availed on free of sample goods so is there any accounting effects required to be given for the same or whether we should book it as a income as it's received without incurring any cost.
Thanks & regards
Amber Jain
Arun Kumar Singh
(GST Advocate)
(15220 Points)
Replied 30 April 2013
Duty is payable under the invoice while removing samples from factory, even if given free. On the basis of invoice Manufacturer can take the cenvat credit.
Amber Jain
(Article Assistant)
(206 Points)
Replied 30 April 2013
Yes ur correct but i wanted to know that whether any accounting effect is required to be given for the same of CENVAT recd on free of supply goods.
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