Cenvat
This query is : Open
16 May 2015
Dear sir
Please solve my problem, if a company receive excisable purchase bill of date 03-03-2015, can company take cenvat credit of education cess and secondary education cessation on that Bill.
Rohit
rohitbaid03@Gmail.com
Please solve my problem, if a company receive excisable purchase bill of date 03-03-2015, can company take cenvat credit of education cess and secondary education cessation on that Bill.
Rohit
rohitbaid03@Gmail.com
Arun Kumar Singh
(Expert)
17 May 2015
Yes, you can take the cenvat credit and utilised for payment of basic excise duty.
CA Nimesh Maheshwari
(Expert)
18 May 2015
Dear Rohit,
First of all, I would like to know why the supplier is issuing an invoice where he is charging cesses post March 1, 2015?
The cesses have subsumed in the rate of 12.5%.
In case the bill date is pre March 1, 2015 and the goods have been received on or post March 1, 2015 then you can take the credit of cesses. However, know that while filing ER 1, you will not be able to show transfer of duties from cesses to basic duty.
It has been reported that the same is not accepted by the system yet.
Please keep the above in mind while taking credit and discharging your duty liability.
First of all, I would like to know why the supplier is issuing an invoice where he is charging cesses post March 1, 2015?
The cesses have subsumed in the rate of 12.5%.
In case the bill date is pre March 1, 2015 and the goods have been received on or post March 1, 2015 then you can take the credit of cesses. However, know that while filing ER 1, you will not be able to show transfer of duties from cesses to basic duty.
It has been reported that the same is not accepted by the system yet.
Please keep the above in mind while taking credit and discharging your duty liability.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
