Excess availment of Cenvat Credit

[mukesh pareek]

Dear Sir,

last month we have availed excess Cenvat credit on a perticular input. now we realised our mistake so now we have revered excess amount from Cenvat credit books and also we have paid interest through PLA.

Now question is that where and under which rule show this in ER-1 return ?

MADE - ARREARS
Select	Sl No	Payments	Amount Paid (Rs.)		GAR-7 Challan		BSR Code	Source Document No.
			Account Current	Credit Account	No.	Date		No.	Date
	1	SelectRule 8Section 11A[2B]Section 11ASection 11D

Total :

0

0

DETAILS OF OTHER PAYMENTS MADE - INTEREST
Select	Sl No	Payments	Amount Paid (Rs.)	GAR-7 Challan		BSR Code	Source Document No.
			Account Current	No.	Date		No.	Date
	1	SelectRule 8Section 11A[2B]Section 11ASection 11D

Total :

0

DETAILS OF OTHER PAYMENTS MADE - MISCELLANEOUS
Select	Sl No	Payments	Amount Paid (Rs.)		GAR-7 Challan		BSR Code	Source Document No.
			Account Current	Credit Account	No.	Date		No.	Date
	1	SelectFinePenaltyOthers

Total :

0

0

[JSW CEMENTLIMITED]

in this case, the reversal of duty has to be shown in cenvat sheed in Cenvat credit utilized for other payment of ER1 return and interest payment through PLA has to be shown in Details of other payments made - miscelleneous (Others)

[mukesh pareek]

When Cenvat Credit show in "Credit Utilised for other payment" then we need to give breakup of that payment in next page (which mention above)

so, My question is under which ( out of above three category ) we can debit excess credit ?

[JSW CEMENTLIMITED]

When you show reversal in cenvat page, one more sheet Other1 will be created where you have to select the Cenvat and show the reversal amount in credit account. Interest paid in cash has to be shown in Other Payments sheet option no.3 as above

AI Summary

Excess Cenvat credit reversal must be recorded in the ER-1 return; interest paid shown under other payments. Excess Cenvat credit should be reversed in the ER-1 return by debiting the Cenvat ledger and showing the reversal as Credit Utilised for Other Payment; the system will create an Other1 sheet to post the reversed amount against the credit account. Interest paid for the excess availment must be paid through PLA and disclosed separately in ER-1 under Details of Other Payments Made as Miscellaneous (Others) or via the Other Payments sheet option no.3.