1.suppose if finished goods is written off in the books of accounts so whether i am liable to pay excise duty.
and if i am not liable to pay excise duty then should i reverse cenvat credit taken on inputs used for finished goods.
Thanks in advance
C.A. LINESH PATIL (CA) (910 Points)
03 November 20101.suppose if finished goods is written off in the books of accounts so whether i am liable to pay excise duty.
and if i am not liable to pay excise duty then should i reverse cenvat credit taken on inputs used for finished goods.
Thanks in advance
sudhakar ca cwa
(service)
(1518 Points)
Replied 03 November 2010
reverse cenvat credit taken on inputs used for finished goods is correct
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