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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Relief u/s Section 89
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
