cenvat credit
This query is : Resolved
C.A.Harish Singh
(Querist)
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Tax on Amount transferred in HUF Account
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- 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
- 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
