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