BAL OF 2% & 1% IN THE CENVAT A/c, Central Excise

[MEHUL ASHAR]

Respected Sir,

As regarding above subject my query is that one of my clients has the balance of 2% and 1% in the cenvat A/c in the february end then what I have to do Sir,Do I have to carry forward the balance and show in the return or not.Please reply.

THANKING U

Posts / Replies

[Rajagopalan Ranganathan]

Sir,

You have to keep the balance in your credit account and show it in your return. The Department is expected to issue some instructions in this regard. But normally when a dutiable goods got exempted from payment of duty then credit of duty paid on inputs available in credit account has to lapse.

[MEHUL ASHAR]

THANK U SIR U SOLVED MY CONFUSION.I M GRATEFUL 2 U.