Cenvat cr reversal
Divya Jeswani (student) (217 Points)
14 December 2015Divya Jeswani (student) (217 Points)
14 December 2015
Shrikant Rathi
(Practicing Chartered Accountant)
(31 Points)
Replied 21 December 2015
As the inputs are destroyed before being put to use, CENVAT credit needs to be reversed. However, there are judgments which say that interest will not be applicable in such cases.
Madhukar N Hiregange
(Chartered Accountant)
(38934 Points)
Replied 22 December 2015
If the inputs have been issued to production and then before use it is scrapped due to poor workmanship of quality defect there is a case for availing the credit. There are a no of decisions allowingcredit post issue to production,.
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