Pakage vendors

[Guest]

Dear Sir,

We given a contract to party with material (like trunkey project).

He started material supply, party is pakage vendor, we are not made GRN - Goods Receipt Not. We checked only quantity. And with proper documents we are processing for further payment.

In this case without GRN how can release payment? How can take CENVAT Credit? What is entries in books? Please suggest.

Thanks & Regards,

Sanjay Vasava

AI Summary

CENVAT Credit and Payment for Turnkey Projects: Importance of GRN for Internal Audits and Controls. A discussion on a forum addressed the issue of making payments and availing CENVAT credit for a turnkey project without a Goods Receipt Note (GRN). The initial query highlighted concerns about processing payments and accounting entries without a GRN. Responses suggested that while GRN is not strictly necessary for CENVAT credit, it serves as proof of receipt of goods and is crucial for internal audits and assessments. An invoice is essential for credit, but GRN indirectly supports the verification of received goods. Participants advised generating a GRN specifically for boiler materials to align with internal controls.