GOODS RECEIPT

[BHARAT PRADHAN]

SIR,  WE ARE IMPORT INGOT FROM SINGAPORE, QTY IS : 500 TON IN 20 CONTAINER'S IN ONE INVOICE & ONE BL, BUT SOME CONTAINERS IN FACTORY ONE DAY, OTHRS CONTAINERS IN OTHER DAY , CAN I ENTRY GRN IN AFTER RECEIVED FULLY QTY  OR  PART QTY GRN IN RECEIVED DATE WISE.

[YAGAY andSUN]

You must up-date your records as and when you receive material in your factory premises, and GRNs can be prepared accordingly.  CENVAT Credit will be available to you, once you receive the whole quantity of the material.

[CASeetharaman KC]

It could be impractical to bring all the goods into the factory in a single consignment. As long as all the goods imported are received in the factory it would not matter whether this is under various GN's and CENVAT would be available after receipt of all the material in the factory. You may prepare a reconciliation tallying the imported quanttiy with the receipts as per GRN's

[JAMES PG]

I agree with Mr Khatri that records to be updated as and when goods are recieved in the factory.

AI Summary

CENVAT credit becomes available only after imported goods are received in the factory and GRNs updated. CENVAT credit is admissible only after imported goods are physically received in the factory and properly recorded. Goods received in multiple consignments under a single invoice/BL should be recorded as received, with GRNs prepared date wise for partial receipts. Maintain inventory records and reconcile the total imported quantity with GRNs to substantiate the credit entitlement upon full receipt in factory premises.