Cera audit
Querist : Anonymous
CERA has asked to ascertain / determine the details of cenvat credit availed vis a vis quantity, description, invoice details,etc. which the company is not in a position to provide as these are all very old materials & stores.
CERA has informed that they will issue notice u/s 14 of Central Excise Act, 1944.
Pls. advice on the course of action that one can take.
go for the computation of these 72 lacs and track the stock closer to the day of such transaction and put the nearby approx transaction for reversal purpose.
Querist : Anonymous
once notice u/s 14 is issued it will end at section 9, so try to produce something which is admissible and they can rely upon.
its just game of maths, confirming the balance sheet stock valuation, you can get help of your CA to make such data with your purchase sheets of previous years.
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