Cenvat credit
This query is : Resolved
13 October 2010
As a manufecturer, We purchased input from another supplier.
If we purchased 100 Kg. input from supplier and supplier sent the goods with invoice of 100kg. with value of goods as well as exciseduty.
In my premises i received 95kg.because of 5 kg. loss in transit.
we pay to supplier value of 100 Kg.
Now question is can we avail the credit of 100 Kg. value or 95 Kg.
Kindly reply soon
If we purchased 100 Kg. input from supplier and supplier sent the goods with invoice of 100kg. with value of goods as well as exciseduty.
In my premises i received 95kg.because of 5 kg. loss in transit.
we pay to supplier value of 100 Kg.
Now question is can we avail the credit of 100 Kg. value or 95 Kg.
Kindly reply soon
13 October 2010
You can avail credit only on 95 Kg because Act does not allow credit on good lost during transit.
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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Gift of mutual fund units to daughter
- Not able to file ITR
- About TDS & Income Tax
- Reporting of STCG on Property in ITR
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
