banner_ad

Cenvat credit reversal

876 views 3 replies

Whether cenvat credit is to be revesed if we are deducting discount on final payment from the purchase invoice on which we have taken credit ? For eg. Purchase invoice was of Rs. 1,00,000 and excise duty was Rs. 10,300 and final payment on this invoice was only Rs. 90,000. Now whether credit will be reversed to the extent of Rs. (10,300 * 90,000/100,000) ?

Replies (3)
HI Prince Manufacturer is eligible for credit attributable to discounted price as per Board circular No. 877/15/2008-CE dt 17.11.2008. Thanks And Regards Suraj Pahuja

Thanks Suraj. Whether the same will apply to Service Tax credit also ?

yes for the same you may refer board circular Circular No. 122/03/2010 – ST


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details