is it necessary to submit central excise invoice to excise deptt, at or after booking cenvat credit in the books for material purchased? if yes pls quote relevant section or circular
a company is following this practice of submitting their invoice after puchase of material. even excise deptt is affixing its stamp on the invoice & returning back . is this practice wrong
regarding cenvat credit, it was old practice to "submit the excise invoice duplicate copies" to range superintendent, for chcking of input credit with RG23A-Part2 register, who "deface" the invoice with note " input credit availed -verified" with their seal and signature,
in current rules no such bindings for such defacing, but if asked for, the assessee has to produce the documents for their verification, but there is nothing wrong if old practice is kept in force by assessee, in fact - this is extra safeguard of assessee, and at later stage such input credit on such invoices can not be questioned by department.
Usually such checkings are done by department at departmental audit.
VIKAS VERMA & CO
New Delhi
Others
View Details
Jawahar and Associates Chartered Accountants
Hyderabad
CA Inter
View Details
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
View Details
CAclubindia
