glidor@gmail.com
21068 Points
Joined January 2010
CCR = cenvat credit means the amount accumulated in books from excise contents from purchase of inputs / capital goods
when the amount is used for payment of excise on clearance of taxable goods , its utilization or paying,
when the assesee remove any input from factory of manufacture on as it is condition then he has to reverse the credit account to the extent of the input credit taken at the time of entry of input in factory of manufacture.
the removal may be "return to supplier"/ sent for job work and not returned within 1 year
another incident is of reversal appears when the manufacturer destruct the scrap of own factory, without clearance it through RG1, then he has to reverse the duty contents of inputs contained in the scrap so destructed.
reversal means roll back of credit entry which was taken prior to reversal !!