Home Highlights November 2015 Year 2015 This

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1. Reversal of Cenvat credit - Inputs found short in factory premises were written off - Shortages written off should be available in the factory prenises for Cenvat credit...

2. Reversal of CENVAT Credit - Value of goods written off in books of accounts - during the relevant time rules did not require reversal of credit when value of inputs was...

3. Disallowance of rates & taxes being reversal of CENVAT credit on scrap written off - In case, the assessee is able to explain CENVAT credit with necessary details, then...

4. Reversal of CENVAT Credit - merely writing off value of the inputs in their books, they could not be denied the credits, when inputs were still lying in their factory premises - AT

5. CENVAT credit - input services written off - Rule 3(5B) of CENVAT Credit Rules, 2004 reveals that it is directed against the input or capital goods and not applicable to...

6. Reversal of Cenvat Credit - Write off of certain slow and non-moving stock of raw materials and finished goods - Only after 1.3.2011, payment has been required in...

7. 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...

8. Non-reversal of CENVAT Credit - Inputs lost during the process of manufacture are not required to be considered for reversal of credit - credit remains allowed.

9. Reversal of CENVAT credit - inputs written off and written back in the books of account - the adjudicating authority must re-quantify the actual credit to be reversed on...

10. CENVAT Credit - The input service credit cannot be denied on the ground that it is shown in the ER1 return instead of the ST3 returns since the cross utilization of...

11. Reversal of Cenvat Credit – Rule 5B - Written off input or capital goods – Reduction of the value of such spares for income-tax purpose, cannot be equated with writing...

12. Seeking reversal of CENVAT Credit - amount written off as bad debts - The appellant has correctly availed the cenvat credit on input services although the amount of...

13. Reversal of Cenvat Credit on inputs written off - as long as the inputs on which the credit has been availed, are within the factory but the same are written off from...

14. Reversal of Cenvat Credit - semi finished goods and intermediate goods destroyed during fire accident - demands raised of reversal of Cenvat Credit on the inputs confirmed - AT

15. Reversal of CENVAT credit on capital goods wrongly taken - when the Cenvat credit are availed on the inputs or capital goods, the credits get merged and as such, lose...