Sales return accounting
This query is : Resolved
04 July 2007
In respect of Debit note received during 2005-06 from customer towards sales return and credit note accounted in the books of account in 2006-07 can we claim Cenvat credit for the excise portion. Also clarify whether cenvat credit can be taken for debit notes of customer raised in 2005-06 and yet to be accounted in the books of account, by now
07 July 2007
There is a specified procedures & documents eligible for taking Cenvat Credit of Excise Duty. It can not be taken based on Dr/ Cr Notes.The Cenvat can be taken based on excisable invoices issued by Customers for Sal;es Return or original Invoice raised by you.
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