Cenvat Credit

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Manasa Ranjan Samal (Querist)
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10 February 2011 Sir,
How to calculate the Debit Entry of Cenvat Credit on inputs and Capital Goods & Debit Entry of Input service Credit (i.e, credit utilized) ?
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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 February 2011 Credit can be taken on payment basis. you keep 2 ledgers while making bill enttry debit one ledger and after payment you transfer the credit to one more ledger and utilise the same

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Manasa Ranjan Samal

Manasa Ranjan Samal (Querist)
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10 February 2011 Ramesh Sir,
Kindly give your email-ID I will attach the excel sheet and ask question from it and my email ID is mrsamal1@yahoo.com

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 February 2011 r.krishnanblr@gmail.com

Manasa Ranjan Samal

Manasa Ranjan Samal (Querist)
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10 February 2011 Sir,
Suppose We took 50% Cenvat Credit on Capital Goods this year and balance 50% in next year. My question is that balance 50% credit in the month of April of next year or same month i.e. April'09 in April'10 , May'09 in May'10 & so on.
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