CENVAT Credit Reversal Not Applicable: Rule 3(5)(B) Inapplicable Due to Partial Inventory Write-Off in Balance Sheet.

CENVAT Credit Reversal Not Applicable: Rule 3(5)(B) Inapplicable Due to Partial Inventory Write-Off in Balance Sheet. https://www.taxtmi.com/highlights?id=62534 Reversal of CENVAT Credit - creation of provisions in the balance sheet for the old and slow-moving inputs - On perusal of the balance sheet, it can be seen that the appellant has not fully written off the value of inventory - It is very evident from the balance sheet that the value of the inputs has not been fully written off. In such circumstances, Rule 3(5)(B) does not apply for the disputed period. - AT en-us Tue, 22 Mar 2022 11:20:44 +0530 Tue, 22 Mar 2022 11:20:44 +0530 TaxTMI RSS Generator CENVAT Credit Reversal Not Applicable: Rule 3(5)(B) Inapplicable Due to Partial Inventory Write-Off in Balance Sheet. https://www.taxtmi.com/highlights?id=62534 Reversal of CENVAT Credit - creation of provisions in the balance sheet for the old and slow-moving inputs - On perusal of the balance sheet, it can be seen that the appellant has not fully written off the value of inventory - It is very evident from the balance sheet that the value of the inputs has not been fully written off. In such circumstances, Rule 3(5)(B) does not apply for the disputed period. - AT Highlights Central Excise Tue, 22 Mar 2022 11:20:44 +0530 https://www.taxtmi.com/highlights?id=62534