cenvat credit
This query is : Resolved
03 September 2009
if i have 2 take cenvat credit on capital goods then whether education cess & highier education cess also to be taken as cenvat credit. For Example
cost of machiene 100
add- Exice Duty 16
Add Edu.cess @3% .48
----
116.48
Vat - 4.65
-----
121.14
-------
Now what amount should be trancefred 2 cenvat credit and what amount 2 machine a/c/
cost of machiene 100
add- Exice Duty 16
Add Edu.cess @3% .48
----
116.48
Vat - 4.65
-----
121.14
-------
Now what amount should be trancefred 2 cenvat credit and what amount 2 machine a/c/
03 September 2009
yes education cess and SHE should be trfs to cenvat acount..your entry will be
Machinery account Dr. 1046.592
Cenvat Credit Receivable Dr 80.00
Education cess receivable Dr 01.60
Secondary Cess Dr 00.80
Deferred Cenvat Credit Dr 80.00
Deferred Education Cess Dr 01.60
Deferred Secondary Cess Dr 00.80
To Party A/c 1211.392
you can round off the amount...
Machinery account Dr. 1046.592
Cenvat Credit Receivable Dr 80.00
Education cess receivable Dr 01.60
Secondary Cess Dr 00.80
Deferred Cenvat Credit Dr 80.00
Deferred Education Cess Dr 01.60
Deferred Secondary Cess Dr 00.80
To Party A/c 1211.392
you can round off the amount...
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- Journal entry of busniess expenses
- EXPORT COMMERCIAL INVOICE HSN CODE
- Cash balance limit and property purchases limit
- Non-Compliance documents have not been submitted by the contractors debited
- GST not cancelled by tenant
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
