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Cenvat credit issue
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....envat credit issue<br> Query (Issue) Started By: - SNEHAL SHAH Dated:- 23-2-2013 Last Reply Date:- 23-2-2013 Central Excise<br>Got 1 Reply<br>Central Excise<br>R/sir, We are Engineering manufacturing....
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.... company , we have take a permission from Central excise for raw material , Semi-finished goods and finished Goods stores outside factory premises. Central Excise department impose one condition that....
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.... U can not take cenvat credit untill all material not received back your Excise registered premises or consumed. We have SAP System and untill we can not entry in SAP cenvat Accounts department not p....
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....ayment to vender . So we have one option that we can take cenvat in suspense account ( Cenvat receivable ) and payment to party . If all material received back in our premises or utilise we can JV en....
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....try and take cenvat . In the year end if any balance suspense account balance we can show in balance sheet Asset side ( NOT CENVAT CREDIT AMOUNT ) . Now my question is that all above transaction is ....
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....as per excise law or excise permission is ok or not ? Please guide to us . With regards, SNEHAL SHAH Reply By Pradeep Khatri: The Reply: Well, if you show the suspense account balance in current....
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.... assest then it would treated that you have availed the CENVAT credit. Please discuss it with your jurisdictional C.E. Authority.<br> Discussion Forum - Knowledge Sharing ....