capital goods

[Former Member]

Hi Gurus,

I have done migo for capitalgoods purchase and captured and posted the excise in migo, entered miro also, and i have done the return delivery to vendor using 122 movement.

during migo

50% of excise gone to cenvat on hold

50% to excise accounts

in reversal 100% amount is deducting from the excise accounts,nothing from cenvat on hold what could be the reason, and what is the right procedure,

Thanks.

Naga.

[mohamedhasanrifaie_m · Accepted solution]

Hi Naga,

In standard SAP, even we can claim balance 50% of cenvat amount by using J2I8 T code immediately. No need to wait for one year.

So, that the system will deduct the full amount while doing the return delivery.

So, do not worry. It is a standard.

Hope it will clarify your doubt.

Award, if found useful.

Regards

Rifaie.M

[Former Member]

Hi,

You need to transfer the balance 50% Excise Duty amount thru J2I8.

Regards,

Vikas

[mohamedhasanrifaie_m]

Hi Naga,

Yes, During reversal 100% excise duty amount will be deducted from the register.

Because, you will not going to consume the balance 50% amount during next year in terms of Cenvat hold.

Regards

Rifaie.M

[Former Member]

Hi,

As per the Current excise law, you can avail the 100% excise duty on the Capital goods, there is no provision as 50 % this year & 50 % next year like now.

So don't go for 50% to cenvat on hold account. You can avail fully 100% in this year itself. So while reversing in 122 mvt type system will consider for 100% only not 50% with respect to capital goods.

rgds

gsc

[Former Member]

Is it in India or other country ??