Is it now mandatory to maintain RG 23A Part I,when we are maintains daily stock details of all raw material like opening balance/consumption/inward/closing balance in Tally format.
sanjay jain (partner) (34 Points)
27 June 2014Is it now mandatory to maintain RG 23A Part I,when we are maintains daily stock details of all raw material like opening balance/consumption/inward/closing balance in Tally format.
R.P.Singh
(Advocate & Consultant)
(1173 Points)
Replied 28 June 2014
Dear Sir,
Not required to maintain RG 23 Part-I.
But As per Rule 9(5) of the CENVAT credit Rules, 2004, you have to maintain proper record for the receipt, disposal, consumption and inventory of input and capital goods. Actually burden of proof regarding admissibility of CENVAT is upon the manufacturer.
CAclubindia
