PKumar (Service) (51 Points)
08 August 2014Dear Sir,
We are a Mfg unit, we purchase the material against document transfer as a transit purchase.
when we received the invoice our name and address not mentioned beacuse of transfer the document through endorshment of LR.
can we take cenvat credit on behalf of LR, if yes, kindly mentioned the cenvat credit Rule.
Please reply as soon as possible.
Venkatanarayana GM
(Partner associate at Hiregange & Associates)
(1279 Points)
Replied 23 August 2014
For all practical problems, there will be no rules.
However, you can avail that credit considering many caselaws decided in favour of assessee prouncing that, receipt of goods is enough to avail the Cenvat Benefit.
Please refer Cenvat Credit Rules 2004.,
Thanks
Venkat
CAclubindia
