Cenvat credit issue

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..... R/sir, We are Engineering manufacturing company , we have take a permission from Central excise for raw material , Semi-finished goods and finished Goods stores outside factory premises. Central Excise department impose one condition that U can not take cenvat credit untill all material not received back your Excise registered premises or consumed. We have SAP System and untill we can .....

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..... not entry in SAP cenvat Accounts department not payment to vender . So we have one option that we can take cenvat in suspense account ( Cenvat receivable ) and payment to party . If all material received back in our premises or utilise we can JV entry and take cenvat . In the year end if any balance suspense account balance we can show in balance sheet Asset side ( NOT CENVAT CREDIT AMOUNT .....

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..... ) . Now my question is that all above transaction is as per excise law or excise permission is ok or not ? Please guide to us . With regards, SNEHAL SHAH - Reply By Pradeep Khatri - The Reply = Well, if you show the suspense account balance in current assest then it would treated that you have availed the CENVAT credit. Please discuss it with your jurisdictional C.E. Authori .....

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..... ty. - Cenvat credit issue - Query Started By: - SNEHAL SHAH Dated:- 23-2-2013 Central Excise - Got 1 Reply - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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