Cenvat reversal
This query is : Resolved
08 December 2012
I am a Manufacturer in textile Industry. I took Excise registration 2 month ago… at the time of registration I have registered only one product which is
exempt from excise duty.. During the 2 months period I purchased Exciseable inputs for production.
But now I also want to manufacture another item ,which is excisebale.. And for that I have applied for Amendment in registration requesting to department
to add one more commodity(which is excisable).
My problem is … (1) whether I can take CENVAT credit on my inputs… which is purchased during past two months (I get added excisable good after 2 month)?
(2) If ans. Of 1 is yes than how can I show it in ER 1 .. [As a rule (6) reversal or any other way]
exempt from excise duty.. During the 2 months period I purchased Exciseable inputs for production.
But now I also want to manufacture another item ,which is excisebale.. And for that I have applied for Amendment in registration requesting to department
to add one more commodity(which is excisable).
My problem is … (1) whether I can take CENVAT credit on my inputs… which is purchased during past two months (I get added excisable good after 2 month)?
(2) If ans. Of 1 is yes than how can I show it in ER 1 .. [As a rule (6) reversal or any other way]
Arun Kumar Singh
(Expert)
11 December 2012
You can take cenvat credit on laying stock and cenvat credit will be available on purchase inputs within two months. If you are manufacturing two item, dutiable and exempted then (1) you should maintained separate accounts for both transaction, (2) pay the duty on exempted goods @ of 6% and avail the cenvat credit on all inputs or (3) reverse the cenvat credit in regards to manufacturing dutiable goods and exempted goods on proportionate way.
18 December 2012
thanx but sir my problem is ... i have filed previous 2 returns ER 1 in which i have reverse all the cenvat on input ... because i have planed only to manfacture exempted goods at that time... now can i once again take CENVAT.... of input which are in stock...
Arun Kumar Singh
(Expert)
19 December 2012
If you have reversed the cenvat credit by mistake then you can avail again.
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