Reversal of cenvat credit taken on input & input service
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2013
Is CENVAT credit taken on Input & Input Service used in manufacture and sale of goods to government companies at NIL rate of excise duty needs to be reversed?
Gorav Kumar Goyal
(Expert)
19 April 2013
if you are manufacturing and selling goods which are exempted then you have two options;-
either maintain separate books of accounts for exempted and dutaible ggods
or pay specified rate of excise/service tax on exempted goods/services.
You can manipulate law as per your own convenience.
Thanks,
CA. Gorav Kumar Goyal
G K Goyal & Associates
9910357301
either maintain separate books of accounts for exempted and dutaible ggods
or pay specified rate of excise/service tax on exempted goods/services.
You can manipulate law as per your own convenience.
Thanks,
CA. Gorav Kumar Goyal
G K Goyal & Associates
9910357301
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