When i have taken CENVAT credit wrongly, i have to reverse the same. Now everywhere i find i have to debit my CENVAT credit account.
my question is CENVAT credit account is my asser (cenvat credit recievable), so if i debit there, i will increase the same further?
Does CENVAT credit and CENVAT credit receivable mean the same thing?
This question pertains to Income Tax. Under Central Excise Rules,2004, you have to reverse/debit.
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