Ranjan Patel (Service) (30 Points)
17 March 2009
Sachin Adsul
(HOD Excise dept)
(178 Points)
Replied 17 March 2009
| Originally posted by :Ranjan Patel | ||
| " | we have to maintain RG 23 PART I & II for inputs of raw and Modvat. so i wnat to know is it mandatory to all to maintain RG 23 PART I & II for both inputs of RAW AND CAPITAL GOODS. Please advice me for the same. |
" |
Mr. Ranjan it is mandetary to maintain Rg-23A Part I& II as well as Rg- 23C Part I & II, without this you can't take cenvat credit of both materials.
Sachin Adsul
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 17 March 2009
Part-I registers were discontinued way back in 2001. Still almost all the assessees are maintaining it. In fact i am surprised to find that many of the assessees are still maintaining form IV register. Things change slowly, but this much slow.......
Ranjan Patel
(Service)
(30 Points)
Replied 18 March 2009
Part I register were discontinued in 2001, if it is correct so i want to know that whether it is for Excise duty Exempted area or for all tax payer. and how we can take credit. in place of this what is the register we have to maintain. Please guide me on this.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 19 March 2009
It is discontinued for everybody irrespective of your location.
Credit is to be taken in Part-II register based on duty paying documents. Regarding receipt/accountal of your raw material, your own records as per your convenience is sufficient.
Tushar Joshi
(Service)
(34 Points)
Replied 25 March 2009
I do agree with Mr. Rajesh Kumar, Also I do want to share some additional information.
We can avail credit of any input / capital goods we recd. in Cenvat Register. It is for the convinience of assessee we are classifying it as RG23A-II for Input & RM and RG23C-II for Capital Goods. which is making it very easy for calculation purpose for figures required for accounting as well as ER-1 purpose.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 25 March 2009
Tushar is right. I have adviced various units to maintain records in the form of RG23A part-I and RG23C part-I for the purpose tushar has pointed out, however those units call the register in a difefrent name (Cenvatable input & CG register) so that questions cannot be raised on simple mistakes here and there.
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