cenvat credit in shortage of supply
This query is : Resolved
20 November 2009
Cenvat credit availment
We got s shipment of 1000 kg from a supplier It is billed for 1000 kg and ED also charged on 1000kgs .But we received only 850 kgs
We can not make any Purchaes Return invoice as we have got only 850kg
On taking cenvat credit how much we need to take whether the whole amount i e., on 1000 kgs as per the supplier invoice document OR only for 850 kgs as recd by us on a prorata basis.
We got s shipment of 1000 kg from a supplier It is billed for 1000 kg and ED also charged on 1000kgs .But we received only 850 kgs
We can not make any Purchaes Return invoice as we have got only 850kg
On taking cenvat credit how much we need to take whether the whole amount i e., on 1000 kgs as per the supplier invoice document OR only for 850 kgs as recd by us on a prorata basis.
20 November 2009
for cenvat u have to go as per the purchase invoice U can make an insurance claim if the goods are insured for the shortage. If the supplier acknowledges the short supply u can get the material Raise a deit/crdit note for short supply account it in the cenvat the excise authorities will accept debit/credit notes
04 December 2009
We seek further clarification from the experts as to whether the cenvat credit should be for the received and accepted quantity or for the billed quantity..
05 December 2009
it should be on input received in factory and not on basis of Invoice
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