What is the Journal Entry to be passed for availing CENVAT Credit on Capital goods
Value of Machinary 500000
ED charged 50000
CENVAT available for first year (50%) 25000
Credit avaiable for the second year (25000).
Please clarify
What is the Journal Entry to be passed for availing CENVAT Credit on Capital goods
Value of Machinary 500000
ED charged 50000
CENVAT available for first year (50%) 25000
Credit avaiable for the second year (25000).
Please clarify
Machinery Account Dr 450000
Cenvat credit receivable dr 25000
Defered Cenvat credit receivable dr25000
To creditor 500000
CAclubindia
