Dear Senior Members
Can i take cenvat and vat setoff credit agst short receipt of goods?
Note: Amt agst short receipt of material was deducted.
on short receipt of goods, you have to take credit to the extent of goods actually received only,.
if the full credit is taken then you have to "reverse" the duty involved in short receipt immediately on such such entry. there is no such clause/provision to "pay" the duty.
if you have received short material , you have to take credit as calculated with net received material only.
CAclubindia
