Journal Entry

450 views
User Avatar

Chartered Accountant CS (Final)
227 Points Posted on 25 September 2010

What is the Journal Entry to be passed for availing CENVAT Credit on Capital goods

 

Value of Machinary   500000

ED charged 50000

CENVAT available for first year (50%) 25000

Credit avaiable for the second year (25000).

Please clarify

Reply Share Follow
On 25 September 2010 at 11:02 Report
Replies (1)
User Avatar

Asst Mgr-Taxation
6918 Points Posted on 25 September 2010

Machinery Account Dr 450000

Cenvat credit receivable dr 25000

Defered Cenvat credit receivable dr25000

To creditor    500000

Reply
On 25 September 2010 at 11:42

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. GST IDS Refund – Statement 01A: Invoice Not
  2. TDS deposit code & TDS return
  3. AIS VS GST Mismatch- FY 2025-26
  4. Gross total income
  5. Export Compliance
  6. Sale of plots in open land
  7. Income tax query
  8. Best CA Inter coaching in laxmi nagar
  9. HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
  10. Unregistered Association of Persons (AOP) Agreemen

More recent discussions | Post

Related Topics :

Loading