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Former Member
Apr 22, 2009 at 11:22 AM

Use of 50% Modvat clearing to next fiscal year

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HI,

As per standard system and govenment rule,we take the 50% credit in J1IEX for RG23C, Part-II and rest 50% we take the credit next year.

I mean to say that we already taken 50% modvat credit in fiscal year in 2008 and now we have to take remaining 50% modvat credit in fiscal year 2009.

In 2008, we already used in J1IEX with reference to Excise invoice no.

But how we take modvat credit in 2009 for remaing 50% for same excise no., its will be in again J1IEX for remainng 50% or some different adjustment / any method ?

Please guide me .

Thanks & Regards,

Anbu