Excise doubt urgent !!!

1129 views 8 replies

In case of Capital goods,one has to avail and utilise 50-50% of excise in present FY and in next FY respectively.So while filling ER-1 should i put only 50% availed amount for Capital Goods??

If so,

Then what about the remaining 50% i am going to utilise next year?? Is it again shown in ER-1 of next year??

Replies (8)

yes, 50% or remaining credit will be displayed in credit next year. 

Originally posted by : U S Sharma

yes, 50% or remaining credit will be displayed in credit next year. 

Yes. You have to utilize 50% current FY and balance 50% (can be availed in a single enry) next FY in ER-1 AS WELL.

If you show 50%+50% in the current it is nothing but availing 100% of credit current FY which is wrong.

f you show 50%+50% in the current it is nothing but availing 100% of credit current FY which is wrong.

So to sum it:

  1. I show only 50% this year as availed and take its credit &
  2. Show remaining 50% in next year ER1 as availed and utilise the same.

Reply asap

Yes. You are right.

Hey Buddy!!!!

you have to show the credit in this return also and also mention it as an opening balance of credits in the er-1 in the next quarter.

you can take credit first 50% in current f.y. and second 50% can take on next f.y.

i.e. you have credit avail of 100%  Rs. 5000 than you can take 2500/- in current month and balance 25000/- can take in month of april or onward month  of next f.y.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details