A Ltd has purchased "Vacumm Circuit Breaker" for Rs 5,41,995/- from B Ltd.
B Ltd charged excise duty @ 10.30% i.e. Rs 55,826/-
Now A Ltd has passed entry in its books of Accounts as follws:
P&M under erection A/c ...Dr Rs 541995
P&M under erection A/c ...Dr Rs 55826
To B Ltd ...Cr Rs 597821
My question is, whether above entry is correct.
Can't A Ltd take cenvat credit of Rs 55826.
CAclubindia
