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Maintenance of records-
Now it's not mandatory to maintain records manually -since dept said to maintain minimum records as per Circular No. 536/32/2000-CX

the forms like RG 23 C & A [part1 & 2] can be maintained in excel sheets in the old formats or not
secondly as per CCR rule 4(2) then ccr on CG -50% can be taken.So at the time of recording in registers[rg 23A [partii] whether we should record fully or  we should record only 50% & at the beginning of the next year we should add remaining 50% in the opening balance-in a/cs [50% CY-CCR receivable[cg] & 50% in next year-Cenvat credit deferred or we should take 100% in books[keep in mind that closing bal CCR [CG] -[50%] only]

in pla in dr column whether it's mandatory to write billwise details or we can just write monthly duty reqd to be paid b/c sometimes bifurcation not possible suppose my ED liability[dr] is 100
ccr[cr]-40, pla[cr]-60 -duty paid[60] fully for a bill bearing ed of rs. 20 & partly for a bill having ED of Rs. 40 then in PLA wht shd  i write on DR side .

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Originally posted by : student


Maintenance of records-
Now it's not mandatory to maintain records manually -since dept said to maintain minimum records as per Circular No. 536/32/2000-CX

- you have to submit the set of records maintained under the act /s and with other rules/ acts, stating productinon / clearance / opening anc closing balances, ........... duty input credit, payment and closing balance. this should be submitted to department once at start of financial year.

the forms like RG 23 C & A [part1 & 2] can be maintained in excel sheets in the old formats or not
secondly as per CCR rule 4(2) then ccr on CG -50% can be taken.So at the time of recording in registers[rg 23A [partii] whether we should record fully or  we should record only 50% & at the beginning of the next year we should add remaining 50% in the opening balance-in a/cs [50% CY-CCR receivable[cg] & 50% in next year-Cenvat credit deferred or we should take 100% in books[keep in mind that closing bal CCR [CG] -[50%] only]

- No bar to use computerized sheets in place of manual registers, however at the end of transaction day print out should be taken and should be signed by authorized signatory before keeping it in filed records. 

- 50% should be taken immediately and balance 50% should be availed only in following year. for accounting purpose, you can keep provision as "cenvat credit - receivable" for balance 50%


in pla in dr column whether it's mandatory to write billwise details or we can just write monthly duty reqd to be paid b/c sometimes bifurcation not possible suppose my ED liability[dr] is 100
ccr[cr]-40, pla[cr]-60 -duty paid[60] fully for a bill bearing ed of rs. 20 & partly for a bill having ED of Rs. 40 then in PLA wht shd  i write on DR side .

- no need to make entry bill wise, but you have to keep records annexed that how this figure worked out, bill wise entry may avoid additional paper work to make schedules and annextures. 

 


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