Excess Availment of CENVAT Credit
CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
29 January 2010CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
29 January 2010
P.Bashista
(Advocate)
(367 Points)
Replied 01 February 2010
In case of Excise invoice if the purchaser has not paid even a single penny to the seller, once a excise invoice is issued the purchaser is eligible for the cenvat credit. So whether the seller has received only Rs. 6000/- or Rs. 10000/- is irrelavent.
But in case of Service tax the credit can be availed only in reciept of the payment.