Reversal of cenvat credit, Central Excise

[Sanjeev Chauhan]

To all,

Sir,

 

Suppose a manufacture 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 amount 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.

Posts / Replies

[SHIVKUMAR SHARMA]

Dear sanjeev

If  The Customer 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.

 

Shivkumar Sharma

[Sanjeev Chauhan]

Sir ,

Thanks a lot.