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Wrong credit taken

This query is : Resolved 

05 October 2015 In ER 1 form in which para we can reverse the wrong credit taken in past. what is source document no.

05 October 2015 Hi,
Show the amount in the utilized column and mention in the remarks column, that amount wrongly taken, but not utilized and has reversed in the current period.

FYI:Rule 14. Recovery of CENVAT credit wrongly taken or erroneously refunded.-
Where the CENVAT credit has been taken or utilized wrongly or has been erroneously refunded, the same along with interest shall be recovered from the manufacturer or the provider of the output service and the provisions of sections 11A and 11AB of the Excise Act or sections 73 and 75 of the Finance Act, shall apply mutatis mutandis for effecting such recoveries.


05 October 2015 Thanks sir




05 October 2015 Pls. you 'Thank User' button to convey your Thanks.



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