balance of shec & ec

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uttam (Querist)
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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

Suresh Ramaswamy (Expert)
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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.

uttam

uttam (Querist)
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24 April 2016 thank you so much for clearing my doubt

Suresh Ramaswamy

Suresh Ramaswamy (Expert)
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24 April 2016 You are most welcome. Happy to have been of help.

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