TaxTMI 
TaxTMI 
One of our clients has availed excessive cenvat credit in the previous month. Since it cannot be revised we had to submit a letter to the range officer giving him the correct calculation to rectify the error. Now, we haven't received any confirmation from the range officer w.r.t this matter. Now my question is, for the this month's return, should I consider the incorrect closing balance as the opening balance - or should I take the opening balance as the one submitted to range officer. Answers with some would be really appreciated.
er-1 related
10 Jan 2016 
2 Replies 
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Cenvat credit correction: reverse ascertainable excess and carry corrected opening balance; otherwise carry existing balance.
If the excess cenvat credit can be precisely ascertained, reverse the excess and carry the corrected opening balance in the next return; if the correct closing balance cannot be ascertained, carry forward the existing incorrect balance. Departmental acknowledgement of the rectification letter is not required, and re-intimation that corrected figures are incorporated in the new return is optional. (AI Summary)
If the excess cenvat credit can be precisely ascertained, reverse the excess and carry the corrected opening balance in the next return; if the correct closing balance cannot be ascertained, carry forward the existing incorrect balance. Departmental acknowledgement of the rectification letter is not required, and re-intimation that corrected figures are incorporated in the new return is optional. (AI Summary)