Dear Experts,
I would like to inform you that my self mahesh and I am working in manufacturing company as an accountant. respected experts last year my company has bourght some machinery and we have got input vat on capital goods and excise on capital goods. Sir, please tell me how to get that inputs of vat & excise in current year. what will be the adjustment entries of the last ending year.
please give me suggestions and general entries.
Cenvat can be claimed within 01 year of invoice date. Please check if the cenvat credit amount has been showing in your ER1 details & sales tax return in last year than only you may process your adjstment entry in your books.
Please clasrify your question for better understanding.
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