Excess availment of excise duty in previous year in er1
This query is : Resolved
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?
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?
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
thanks
JMGOR
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