WHETHER UNUTILISED CENVAT CREDIT OF TRADING GOODS CAN BE CARRY FORWARD FOR NEXT YEAR ???
PL REPLY
GIRISH KHUBCHANDANI (STUDENT) (90 Points)
23 July 2011WHETHER UNUTILISED CENVAT CREDIT OF TRADING GOODS CAN BE CARRY FORWARD FOR NEXT YEAR ???
PL REPLY
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 23 July 2011
trading goods and cenvat credit??????????????
in trading there is no existance of cenvat credit, its scheme for manufacturers only ,
excise registered dealers have to pass on the duty only, they are not eligible to take cenvat credit on traded items.
Durga prasad Ambati
(Taxation, Pursuing CA)
(737 Points)
Replied 26 July 2011
| Originally posted by : U S Sharma | ||
 |
trading goods and cenvat credit?????????????? in trading there is no existance of cenvat credit, its scheme for manufacturers only , excise registered dealers have to pass on the duty only, they are not eligible to take cenvat credit on traded items. |
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CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 27 July 2011
If the activity is dealer under excise, the unutilsed credit can be carried forwarded.
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