Cenvat credit

This query is : Resolved

RAJAGOPAL (Querist)
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06 March 2014 DEAR SIR,

1.A COMPANY IS TAKING CENVAT CREDIT ON PURCHASES MADE . BUT WHEN THE SAME PURCHASES
IS RETURNED BACK WHETHER CENVAT CERDIT SHOULD BE REVERSED.

2.WHEN SALES RETURNS OCCURS WHETHER THE LIABILITY TO PAY THE EXCISE DUTY SHOULD BE REVERSED ? WHAT IF IT OCCURS AFTER MORE THAN ONE MONTH AFTER SALES OCCURS IE IF THE EXCISE DUTY IS PAID AND RETURNS ARE FILED?

RAXIT V SONI

RAXIT V SONI (Querist)
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06 March 2014 Dear sir,
My query is that can AO asked for supportings for cost of improvement made 14 years before?as per Rule 6F assessee liable to carry books of accounts for 6 years.
please suggest me on that and please give me some reference of case laws related to such matter.

Vishnu Saboo

Vishnu Saboo (Expert)
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08 March 2014 you have to return the goods vide excisable document.
similarly in case of sales return the buyer have to send the material thru excisable doc.

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