Vinay Somani (Articleship) (39 Points)
12 March 2009Can we immediately take cenvat on inputs as soon as they enter the factory premises for e.g can an Assessee claim the cenvat while filing ER1 on 5th of a month on all the goods that had entered the factory premises till 4th of that month. Please also give the advantages/ disadvantages
Sachin Adsul
(HOD Excise dept)
(178 Points)
Replied 12 March 2009
| Originally posted by :Vinay Somani | ||
| " | Can we immediately take cenvat on inputs as soon as they enter the factory premises for e.g can an Assessee claim the cenvat while filing ER1 on 5th of a month on all the goods that had entered the factory premises till 4th of that month. Please also give the advantages/ disadvantages | " |
Dear Vinay
we Can not take cenvat credit after complition of month, the 5th of month is a date of submitted Return date, & also we can give revenue figure on end of the month means last day of every month ( either 30th or 31st ) for this we doest have any advantages its a rule you can not says that advantage & disadvantage.
Regards sachin Adsul (HOD Excise)
CAclubindia
