Respected All,
It is related to CENVAT Credit available from the purchase of RAW MATERIAL made during the any FY staring with 1st April till 31st March by the SSI Unit availing benefit of SSI Exemption under EXCISE NOTIFICATION OF 8/2003.
I know that, if there is any amount of Closing Bal. of CENVAT Credit is left un-used as on 31st March (CENVAT Cr only on Purchase RM) can not be carry forward for next Financial Year.
To clarify more with e.g. (pls open attach xls file before reading further)
There is a Closing Bal. of CENVAT Cr of Rs. 2575/- which can not be C/F to next FY and the same amount get lapsed and amount is required to be transferred to P & L A/c.
BUT I AM IN A NEED OF EXCISE DECLARATION FOR ABOVE RULE THAT SAYS THE CENVAT CREDIT CAN NOT BE CARRY FORWARD FOR NEXT F-Y SO I CAN EXPLAIN THE SAME TO MY CLIENT
SO PLEASE ARRANGE TO SEND ME THE EXCISE NOTIFICATION / DECLARATION MENTIONING THE CENVAT CREDIT GETS LAPSED AS ON 31ST MARCH AND CAN NOT BE CARRY FORWARD TO NEXT F.Y.
From India, Nasik
It is related to CENVAT Credit available from the purchase of RAW MATERIAL made during the any FY staring with 1st April till 31st March by the SSI Unit availing benefit of SSI Exemption under EXCISE NOTIFICATION OF 8/2003.
I know that, if there is any amount of Closing Bal. of CENVAT Credit is left un-used as on 31st March (CENVAT Cr only on Purchase RM) can not be carry forward for next Financial Year.
To clarify more with e.g. (pls open attach xls file before reading further)
There is a Closing Bal. of CENVAT Cr of Rs. 2575/- which can not be C/F to next FY and the same amount get lapsed and amount is required to be transferred to P & L A/c.
BUT I AM IN A NEED OF EXCISE DECLARATION FOR ABOVE RULE THAT SAYS THE CENVAT CREDIT CAN NOT BE CARRY FORWARD FOR NEXT F-Y SO I CAN EXPLAIN THE SAME TO MY CLIENT
SO PLEASE ARRANGE TO SEND ME THE EXCISE NOTIFICATION / DECLARATION MENTIONING THE CENVAT CREDIT GETS LAPSED AS ON 31ST MARCH AND CAN NOT BE CARRY FORWARD TO NEXT F.Y.
From India, Nasik
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