Credit note

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2012 We are manufacturing Company.

Customer has not accepted full bill amount and made payment as per his acceptance which is less than our bill amount.

Accordingly excise duty and Sales tax amount has also not been recovered fully

Accordingly we have raised Credit Note.

Can we take cenvat credit of excise based on Credit Note??

If not, any other solution to deal with it??
Also same question in respect of VAT or CST amount.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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23 August 2012 Yes, in Case of VAT & CST, You Can Reverse The Tax Amt Based on Sales Tax.

But in case of Excise Its Not Possible.
in Excise Return Rule 16 is Applicable.

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