Reversal of CENVAT Credit
This query is : Resolved
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 .
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Section 50-fixed asset-->building ceases to exist
- Tds on commission charges
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
