Cenvat credit on raw material destroyed
This query is : Resolved
ANUJ KUMAR SINGH
(Querist)
11 January 2013
Sir,
Whether cenvat credit on raw material and semi finished goods destroyed by fire is required to be reversed. Why and under which provision.
Whether cenvat credit on raw material and semi finished goods destroyed by fire is required to be reversed. Why and under which provision.
Madhukar N Hiregange
(Expert)
12 January 2013
The raw material which are issued for production and then destruction takes place, the credit need not be reversed.
However those in the stock not issued, then credit reversal wouldbe necessary.
However those in the stock not issued, then credit reversal wouldbe necessary.
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