03 March 2016
Dear Sir, At present we paying excise duty and taking CENVAT credit but our turnover is below 4 cr of F.Y. 2015-16 that's why we will claiming for exemption benefit from 01/04/2016, so if raw material stock lying balance as on 31/03/2016 in stock then should we reverse cenvat credit for that raw material? because that raw material we using for further production.
CAclubindia
