capital goods destroyed in a fire accident
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2010
Sir,
We have purchased capital goods and CENVAT input credit is availed.
Now the capital goods destroyed in a fire accident.
I want to know is it necessary to reverse the cenvat input credit utilized.
what is accounting treatment please give the accuounting entry
Thanking you
We have purchased capital goods and CENVAT input credit is availed.
Now the capital goods destroyed in a fire accident.
I want to know is it necessary to reverse the cenvat input credit utilized.
what is accounting treatment please give the accuounting entry
Thanking you
11 February 2010
No, there is no requirement of reversal of credit.
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