https://www.taxtmi.com/forum/issue?id=107332 Reversal of equivalent Cenvat credit on inputs removed as such is determined by the manufacturer's inventory valuation method; the taxpayer should reverse credit using the FIFO or LIFO approach adopted by the organization, tracing which procurement batch supplies the removed goods and the corresponding attributable credit. Proper storage and tracking of domestic, imported, and differently rated inputs must align with the chosen method to enable identification and accurate reversal, and study of cost accounting standards is advised for compliance and transaction handling. en-us Sun, 14 Sep 2014 10:34:54 +0530 Thu, 23 Jan 2025 15:57:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=107332 Reversal of equivalent Cenvat credit on inputs removed as such is determined by the manufacturer's inventory valuation method; the taxpayer should reverse credit using the FIFO or LIFO approach adopted by the organization, tracing which procurement batch supplies the removed goods and the corresponding attributable credit. Proper storage and tracking of domestic, imported, and differently rated inputs must align with the chosen method to enable identification and accurate reversal, and study of cost accounting standards is advised for compliance and transaction handling. Discussion-Forum Central Excise Sun, 14 Sep 2014 10:34:54 +0530 https://www.taxtmi.com/forum/issue?id=107332