https://www.taxtmi.com/circulars?id=590 The circular warns that unutilized CENVAT credit debited as expenditure in Profit and Loss accounts, yet retained in CENVAT accounts for later use, can create unintended double benefits under Central Excise and Income Tax laws. It notes this risk arises particularly with inverted duty structures and instructs field formations to inform Income Tax authorities where such credits have not been written off and for audit parties to monitor year end CENVAT balances. en-us Wed, 28 Apr 2004 00:00:00 +0530 Wed, 24 Sep 2008 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=590 The circular warns that unutilized CENVAT credit debited as expenditure in Profit and Loss accounts, yet retained in CENVAT accounts for later use, can create unintended double benefits under Central Excise and Income Tax laws. It notes this risk arises particularly with inverted duty structures and instructs field formations to inform Income Tax authorities where such credits have not been written off and for audit parties to monitor year end CENVAT balances. Circulars Central Excise Wed, 28 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/circulars?id=590