is it necessary to submit central excise invoice to excise deptt, at or after booking cenvat credit in the books for material purchased? if yes pls quote relevant section or circular
a company is following this practice of submitting their invoice after puchase of material. even excise deptt is affixing its stamp on the invoice & returning back . is this practice wrong
regarding cenvat credit, it was old practice to "submit the excise invoice duplicate copies" to range superintendent, for chcking of input credit with RG23A-Part2 register, who "deface" the invoice with note " input credit availed -verified" with their seal and signature,
in current rules no such bindings for such defacing, but if asked for, the assessee has to produce the documents for their verification, but there is nothing wrong if old practice is kept in force by assessee, in fact - this is extra safeguard of assessee, and at later stage such input credit on such invoices can not be questioned by department.
Usually such checkings are done by department at departmental audit.
Shyam Joshi & Associates
Pune
B.Com
View Details
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
Shaswat initial support private limited
Ahmedabad
CS
View Details
CAclubindia
