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capital goods destroyed in a fire accident

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Querist : Anonymous

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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


11 February 2010 No, there is no requirement of reversal of credit.


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