Cenvat reversal on trading activity
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2014
Dear experts,
we have 2 excise registration, one as dealer and other for manufacturing. We are engaged in both activities. we files the separate return as per excise reg no.we have the SAP system installed wherein we have kept the separate plants for trading and manufacturing. need less to say we donot take the input credit of input for purchases in trading plant and do not charges the duty on sales.
all the excise related ledger accounts e.g. input credit a/c, excise duty payable a/c, maintained relates to manufacturing activities.
Whether we need to reverse the cenvat credit for trading activity carried on ?
we have 2 excise registration, one as dealer and other for manufacturing. We are engaged in both activities. we files the separate return as per excise reg no.we have the SAP system installed wherein we have kept the separate plants for trading and manufacturing. need less to say we donot take the input credit of input for purchases in trading plant and do not charges the duty on sales.
all the excise related ledger accounts e.g. input credit a/c, excise duty payable a/c, maintained relates to manufacturing activities.
Whether we need to reverse the cenvat credit for trading activity carried on ?
Arun Kumar Singh
(Expert)
27 March 2014
Trader can only pass the excise duty to our client can not take the cenvat credit. If you have taken the cenvat credit in the part of trading activity then you should reverse the same. you should consult with any professional.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
