Er 1 urgent

396 views 1 replies

DEAR ALL

I want to know about cenvat credit on CAPITAL GOODS .

For example

Canvat on CG are as under

12% BASIC RS. 1000

2% EDUC RS. 20

1% SHEC RS. 10

 

I know 50 % credit will be availed

but question is

while submitting ER -1 HOW MUCH AMOUNT IS SHOWN IN RETURN

whether

12% BASIC RS. 1000

2% EDUC RS. 20

1% SHEC RS. 10 and

Utilize 50 % of each

12% BASIC RS. 500

2% EDUC RS. 10

1% SHEC RS. 5

 

 

or

In ER -1 whether to show

BASIC RS. 500

2% EDUC RS. 10

1% SHEC RS. 5 and

utilized the same.

 

It's urgent kindly help 

 

Replies (1)

In er-1 you can show the credit amount. i.e 50%

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