balance of shec & ec
This query is : Resolved
23 April 2016
hello experts
i have a query
suppose i have st balance 1000 ec balance 200 and shec balance 100 so what should i show in opening balance in oct-mar return?
1300 as ec & shec abolished or 200 as opening balance how to adjust it ?
Suresh Ramaswamy
(Expert)
24 April 2016
The opening balance of CENVAT Credit in the ST - 3 form should correspond to the closing balance of the earlier ST - 3 Return.
In the current ST - 3 Return you should show the opening balance as 1000,200 & 100. In the month of October in Row 13.1.2.6.(any other credits taken - please specify) take the credit of EC and SHEC Rs.300. Please ensure that in the EC & SHEC sections Row 13.2.3.4 & 13.3.3.4 (any other payments / adjustments / reversals - please specify) Enter the narration 'Transferred to ST' the amounts 200 and 100 respectively are filled in. This will automatically result in the balance of EC & SHEC becoming 'NiL' for future returns.
In the current ST - 3 Return you should show the opening balance as 1000,200 & 100. In the month of October in Row 13.1.2.6.(any other credits taken - please specify) take the credit of EC and SHEC Rs.300. Please ensure that in the EC & SHEC sections Row 13.2.3.4 & 13.3.3.4 (any other payments / adjustments / reversals - please specify) Enter the narration 'Transferred to ST' the amounts 200 and 100 respectively are filled in. This will automatically result in the balance of EC & SHEC becoming 'NiL' for future returns.
Suresh Ramaswamy
(Expert)
24 April 2016
You are most welcome. Happy to have been of help.
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