https://www.taxtmi.com/article/detailed?id=256 Cenvat credit is allowable to a buyer on the basis of excise duty actually paid as shown in the supplier's invoice; subsequent commercial discounts do not automatically reduce that credit. Only where the supplier's excise liability is reduced or a refund is obtained can the revenue require reversal of the buyer's credit. Buyers must monitor supplier refunds or reassessments and reverse credit or seek reimbursement if supplier-side duty adjustments are established. en-us Mon, 29 Dec 2008 00:00:00 +0530 Thu, 10 Dec 2009 21:36:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=256 Cenvat credit is allowable to a buyer on the basis of excise duty actually paid as shown in the supplier's invoice; subsequent commercial discounts do not automatically reduce that credit. Only where the supplier's excise liability is reduced or a refund is obtained can the revenue require reversal of the buyer's credit. Buyers must monitor supplier refunds or reassessments and reverse credit or seek reimbursement if supplier-side duty adjustments are established. Articles Cenvat Credit Mon, 29 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=256