Respected All,
It is related to CENVAT Credit available from the purchase of RAW MATERIAL made during any FY starting with 1st April till 31st March by the SSI Unit availing the benefit of SSI Exemption under EXCISE NOTIFICATION OF 8/2003.
I know that if there is any amount of Closing Bal. of CENVAT Credit left unused as of 31st March (CENVAT Credit only on Purchase RM), it cannot be carried forward for the next Financial Year. To clarify more with an example (please open the attached xls file before reading further).
There is a Closing Bal. of CENVAT Credit of Rs. 2575/- which cannot be carried forward to the next FY, and the same amount gets lapsed, requiring transfer to the P & L A/c.
BUT I AM IN NEED OF AN EXCISE DECLARATION FOR THE ABOVE RULE THAT STATES THE CENVAT CREDIT CANNOT BE CARRIED FORWARD FOR THE NEXT F-Y SO I CAN EXPLAIN THE SAME TO MY CLIENT.
SO PLEASE ARRANGE TO SEND ME THE EXCISE NOTIFICATION / DECLARATION MENTIONING THAT THE CENVAT CREDIT GETS LAPSED AS OF 31ST MARCH AND CANNOT BE CARRIED FORWARD TO THE NEXT F.Y.
From India, Nasik
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It is related to CENVAT Credit available from the purchase of RAW MATERIAL made during any FY starting with 1st April till 31st March by the SSI Unit availing the benefit of SSI Exemption under EXCISE NOTIFICATION OF 8/2003.
I know that if there is any amount of Closing Bal. of CENVAT Credit left unused as of 31st March (CENVAT Credit only on Purchase RM), it cannot be carried forward for the next Financial Year. To clarify more with an example (please open the attached xls file before reading further).
There is a Closing Bal. of CENVAT Credit of Rs. 2575/- which cannot be carried forward to the next FY, and the same amount gets lapsed, requiring transfer to the P & L A/c.
BUT I AM IN NEED OF AN EXCISE DECLARATION FOR THE ABOVE RULE THAT STATES THE CENVAT CREDIT CANNOT BE CARRIED FORWARD FOR THE NEXT F-Y SO I CAN EXPLAIN THE SAME TO MY CLIENT.
SO PLEASE ARRANGE TO SEND ME THE EXCISE NOTIFICATION / DECLARATION MENTIONING THAT THE CENVAT CREDIT GETS LAPSED AS OF 31ST MARCH AND CANNOT BE CARRIED FORWARD TO THE NEXT F.Y.
From India, Nasik
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Dear all,
Can anyone help me with the following? We are registered excise dealers, and we have old stock for which we need to claim credit under CENVAT. Therefore, we need to issue a declaration letter to the Excise department.
Please advise me on how to draft this letter.
Thank you.
From India, Madras
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2Can anyone help me with the following? We are registered excise dealers, and we have old stock for which we need to claim credit under CENVAT. Therefore, we need to issue a declaration letter to the Excise department.
Please advise me on how to draft this letter.
Thank you.
From India, Madras
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