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TMI Blogccr if not claimed beforeX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir in the bill of cartage inward (via air) service tax charged by the transporter from company, however company erroneously booked the entire value in cost and no ccr claimed for the same and that invoice belongs to nov,13 month. now my question is wheather company can clain the ccr by correcting the entry bcoz company has filed return of income till december. please give ur suggestion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regards pradeep kumar - Reply By CA. Surender Gupta - The Reply = There is no restriction on correction of entry. You can avail cenvat credit now is otherwise you are eligible and fulfilling the conditions of input service under rule 2(l) of CCR, 2004. - Reply By Pradeep Kumar - The Reply = thanks - Reply By Rajesh Nathoo - The Reply = Dear Mr. Pradeep, Please refer to Board,s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circular , 783/16/2004- CX dated 28.4.2004 . Basic logic of this circular is assessees don't get double benefit in Central Excise as well as Income Tax . Input duties are accounted in Cenvat credit Receivables A/c which is an asset account instead of expenditure account . You have already claimed it as expenditure under I.T Act . If u want to reverse the entry , u should keep I.T provisions in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mind or if u want to revesse the entry , this claimed expenditure should reflect in your Income Account for which u are u liable to pay I.T. As per the Circular stated above , I.T. Authorities should be intimated by Central excise Officials so that assessee does not take double benefit in Central excise as well as Income tax . - Reply By Pradeep Kumar - The Reply = Dear Rajesh Nathoo Thanks for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... your suggestion. Let me clarify one more thing...in my query i told that assesse has filed return that return means here excise return not income tax return. I have also studied the curcular which you have mentioned, which was talking about income tax point of view. So the answer suggested by surender gupta ji is correct. Isnt it? Regards Pradeep Kumar - Reply By Rajesh Nathoo - The Reply = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Pradeep, If u have not filed IT , then it is okay , u can reverse the entry and take credit as there is no time bar for taking credit in central excise . - Reply By Rajesh Nathoo - The Reply = Dear Pradeep , Plz. correct ur query ............. ..company has filed return of income till december ., it gives a very different picture for which my earlier suggestion was meant because ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... when u r raising a query u should be clear of what u r asking . - Reply By Pradeep Kumar - The Reply = Dear rajesh ji I am sorry for the err. It was written by mistake. And thanks for your suggestion. Regards Pradeep Kumar - ccr if not claimed before - Query Started By: - Pradeep Kumar Dated:- 11-1-2014 Central Excise - Got 7 Replies - Central Excise - Discussion Forum - Knowledge Sharing, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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