Home Highlights April 2014 Year 2014 This

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1. Reversal of cenvat credit on goods lost / written off - returned goods - on written off value, Cenvat credit is not admissible - AT

2. 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...

3. 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...

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. 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...

6. 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...

7. Reversal of CENVAT Credit - reversal in the Books of Accounts instead of transfer of the said amount to the electronic ledger is a valid reversal or not - Since the GST...

8. Reversal of CENVAT Credit - inputs written off - provision made in the books of accounts on account of Non-Moving Inventory, without reducing the value of inventory -...

9. Reversal of Cenvat Credit - When the audit wing had already verified the books of accounts of the Appellant and had sought reversal of Cenvat credit along with interest...

10. Disallowance on account of extraordinary items written off - It is not in dispute that the assessee had indeed written off the said abandoned project expenditure in its...

11. Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

12. 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...

13. CENVAT Credit - Rule 3(5B) of CCR, 2004 -Valuing at lower rate is not equivalent to writing of the value of inputs in the books of account - demand set aside - AT

14. 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...

15. CENVAT credit - appellant is liable to pay 10% of the value of e-bikes at the time of their clearance and the cenvat credit lying in their cenvat account shall not lapse...