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.
yuvraj kalambe (accounts) (92 Points)
16 February 2012
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 17 February 2012
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.
VI$H@L G@G
(Asstt. Excise & taxation Manager ( Pearl Group))
(45 Points)
Replied 31 August 2016
if you have received short material , you have to take credit as calculated with net received material only.
CAclubindia
