Roshan A (Chartered Accountant) (458 Points)
12 June 2012In case of Capital goods,one has to avail and utilise 50-50% of excise in present FY and in next FY respectively.So while filling ER-1 should i put only 50% availed amount for Capital Goods??
If so,
Then what about the remaining 50% i am going to utilise next year?? Is it again shown in ER-1 of next year??
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 12 June 2012
yes, 50% or remaining credit will be displayed in credit next year.
RAKESH
(Almost CA)
(2199 Points)
Replied 12 June 2012
| Originally posted by : U S Sharma | ||
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yes, 50% or remaining credit will be displayed in credit next year. |
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Rajaram M
(Asst. Manager Materials)
(180 Points)
Replied 12 June 2012
Yes. You have to utilize 50% current FY and balance 50% (can be availed in a single enry) next FY in ER-1 AS WELL.
If you show 50%+50% in the current it is nothing but availing 100% of credit current FY which is wrong.
sharad rai
(learner )
(178 Points)
Replied 12 June 2012
f you show 50%+50% in the current it is nothing but availing 100% of credit current FY which is wrong.
Roshan A
(Chartered Accountant)
(458 Points)
Replied 13 June 2012
So to sum it:
Reply asap
Ajay Pareek
(Article)
(45 Points)
Replied 13 June 2012
Hey Buddy!!!!
you have to show the credit in this return also and also mention it as an opening balance of credits in the er-1 in the next quarter.
Lalit Sangani
(M.Com. Asst. Manager Account)
(736 Points)
Replied 13 June 2012
CAclubindia
