Cenvat credit cess balance
Suganya S (Officer) (28 Points)
22 April 2016
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 23 April 2016
No,
Cenvat rules have diff account codes for cenvat / edu cess and S&HS EC , and its not interchangable
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 23 April 2016
Accumulated EC + SHEC cannot be utilised presently. Refund maybe possible but has to be tried out.
It can be carried forward with a hope that once GST is introduced, it maybe allowed to be converted to GST credit.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India