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Cenvat claim

CA Mohit Garg (CS Student) (212 Points)

04 July 2013  

Hi.. friends,

Query 1. If an invoice has been received from vendor, whch include excise & vat

i.e. basic value + Excise (i.e. 12.36% of basic value) + vat (i.e. 5.25% of basic + excise)

But quantity received is short.

So, basic value (i.e. assessable has been reduced), but excise & Vat has been claimed at the actual amount appearing in the origial invoice.

According to me Excise & Vat should also be reduced


Query 2. As in case of Excise we have to maintain separate record of basic excise & cess

i.e. Cenvat of basic excise & cess to be adjusted only against basic excise & cess respectively.

Whether this type of co-relation is also required in case of Vat & Surcharge

According to this type of co-relation is not required


Pls give ur comments with supporting if possible

 3 Replies

CA vinod (Chartered Accountant) (518 Points)
Replied 04 July 2013

Q1. Ask the vendor to issued credit note for the value equallent to short material 

Q2. There is no concept of surcharge on VAT.

CA Mohit Garg (CS Student) (212 Points)
Replied 04 July 2013


Thanks for reply....

Q1. Whether it is sufficient if purchaser issue debit note to vendor for short quantity on basic value and than claim excise or vat oo full value (including on short quantity).

Q2.Concept of Sucharge is in Haryana.....

CA D R P (Chartered Accountant) (313 Points)
Replied 04 July 2013

Ya Surcharge is possible in VAT also...

QUERY : 1:

I think that here you need not to worry about quantity ( inrelation to duty availment) as you have paid full excise and vat and hence, you can definitely claim full credit as per CENVAT Rules. ( If u are R.Dealer/R.Mfrer)

But, if vendor/supplier is ready to issue a credit note and as a result you pay duties on such reduced amounts then, also this case can be resolved, and you can get full credit. ( If u are R.D./R.M.)

But, in many cases Supllier will not issue such credit note, as they may have already filed their returns...


QUERY : 2 :

 Cess follows excise...  & Similarly any Additional tax/Surcharge follows vat...

So, separate record can be maintained...

Actually as basic duty naturally follows additional... ultimately they can be divided based on fixed quantum of rate on additional duty structure...

Then also, Will you please elaborate your question properly?

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