Please help me with cenvat credit

Arka Bose (None) (313 Points)

28 September 2014  

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?