Reversal of CENVAT Credit
This query is : Resolved
Suraj Agarwal
(Querist)
16 April 2011
A capital asset has been purchased on 01-07-2007 for duty paid of Rs.263680/-. It is disposed of on 30-09-2009 as such. Now problem is what amount payable towards cenvat credit already taken at the time disposal ?
As per my view,
Total CENVAT credit 263680
Less:Abatement(2.5%*9)=22.5% 59328
Amt. payable 204352
Is it valid in law ?? If not, plz. reply in detail .
As per my view,
Total CENVAT credit 263680
Less:Abatement(2.5%*9)=22.5% 59328
Amt. payable 204352
Is it valid in law ?? If not, plz. reply in detail .
U S Sharma
(Expert)
02 June 2011
yes its valid
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Movement of goods by packers and movers - type of sale - Reg.
- Missed uploading GST Invoice
- Appointment of Auditor By Form ADT-1
- RCM and same line
- ARCA LOGIN
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Closer of business and itc of capital goods
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
