TaxTMI 
TaxTMI 
Reversal of cenvat credit
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....eversal of cenvat credit<br> Query (Issue) Started By: - Sanjeev Chauhan Dated:- 23-8-2013 Last Reply Date:- 24-8-2013 Central Excise<br>Got 2 Replies<br>Central Excise<br>To all, Sir, Suppose a man....
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....ufacture has availed credit on the strength of an Invoice where the price is Rs.100 and duty pass on is Rs.12.36 and later he receives credit of rate differnece of Rs.10. Mean to say that the actual a....
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....mount he has paid is Rs.90 but credit take is Rs.12.36. Now , is the manufacturer is liable to reverse proportionate credit on Rs.10. Reply By SHIVKUMAR SHARMA: The Reply: Dear sanjeev If The Custo....
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....mer is paid a Sum of Rs.90+12.36 ,Than he no need to reversed Rs.1.24 .Because he received the Credit not of basic Value only & not differential amt.of excise duty from supplier of excisable goods. S....
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....hivkumar Sharma Reply By Sanjeev Chauhan: The Reply: Sir , Thanks a lot.<br> Discussion Forum - Knowledge Sharing ....