modvat credit
This query is : Resolved
09 March 2010
friends provide me solution on this:
excise duty paid on raw materials for which modvat credit has availed, wheather excise duty paid on which credit has not been availed should be included in valuation of inventories or not.
excise duty paid on raw materials for which modvat credit has availed, wheather excise duty paid on which credit has not been availed should be included in valuation of inventories or not.
Madhukar N Hiregange
(Expert)
10 March 2010
The recoverable part would have been availed and no recoverable part nopt claimed. On part where no credit claimed the inventory wouldbe at gross value.
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