Excess availment of excise duty in previous year in er1

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keshav (Querist)
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22 August 2013 Hi,
We can avail only 50% of input of excise duty in 23C. But in the previous year in the month of February 2012, the whole 100% input has been availed. The E.R.1 return cannot be filed again. So what measures shall be taken now?

Jagdishkumar M Gor

Jagdishkumar M Gor (Expert)
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23 August 2013 First note that you had mentioned input but it is not input but capital goods. You are eligible for 50% credit in Feb-12 and 50% in Apri-12. so you had taken the 50% excess credit from Feb-12 to 31-3-12, so pay the interest up to 31-3-12 for excess credit taken, and inform excise dept through letter.

thanks
JMGOR

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