CENVAT
This query is : Resolved
cineshjoseph
(Querist)
17 April 2011
As per Rule 4, CENVAT Credit in respect of inputs may be taken immediately on receipt of the inputs in the factory of the manufacturer.
My doubt is when the goods will be considered as received in factory. Whetehr just crossing the factory gate is sufficient or whether it need to be documented in the books of person receiving the goods ie GR need to be done in the books of account of the factory? Is there any specific case law/ circular in this regard?
PLS HELP
My doubt is when the goods will be considered as received in factory. Whetehr just crossing the factory gate is sufficient or whether it need to be documented in the books of person receiving the goods ie GR need to be done in the books of account of the factory? Is there any specific case law/ circular in this regard?
PLS HELP
U S Sharma
(Expert)
02 June 2011
after entering factory gate the same is needed to be entered in RG23A- Part 1 in stocks, then only the duty credit is to be taken in RG23A- part II
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