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Revarsal of cenvat credit
some finished goods and Raw materials were written off from books of account due to find shortage at the time of periodical physical verification. so whether require to revarsal of CENVAT in case of RM and require to pay duty on FG?
Replies (2)
Circular No. 907/27/2009-CX., dated 7-12-2009 in terms of this Circular, you have required to pay Excise duty or reverse the CENVAT Credit availed on inputs of Rule 21 of the Excise Rules.
You can reverse the duty what you have taken credit at the time of inward.
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