Cenvat Input

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sunil (Querist)
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29 September 2009 Dear Sir/Madam,

I want to know that if any organization take 50% Input of Cenvat (on Machinery Excise Duty) current year and next year how to treat this I mean balance 50% show as an Opening Balance or Opening Balance and how to show it current year Return, please as an Closing Balance or not shown in the return, please guide me on

sunil_kumar10520@yahoo.com

Thanking you

Shyam Lal Naik

Shyam Lal Naik (Expert)
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29 September 2009 Carry forward the balance 50% in a ledger styled " Deferred Cenvat A/c", in the Balance Sheet.

you are not required to show the deferred cenvat in the return.

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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03 October 2009 No need to show in the return. Next year avail in April for using against the tax payable.

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