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Monthly Utilization Reversal

Former Member
0 Kudos

Dear All,

Is there any possibility to reverse monthly utilization (J2IUN).

Please respond as early as possible.

Thanks in advance.

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Hi

It is not possible to reverse the documents posted through J2IUN as it would have cleared the payable amount. You need to apply for credit with the excise department for taking back the amount that has been expunged through J2IUN.

Alternatively, you can cancell the excise invoices and apply for credit on those cancelled invoices. When you cancell the excise invoices, entry will be posted to Cenvat suspense account and ED payable account, which can be reversed but not in excise books.

Regards,

Lakshmanan Krishnan

Answers (1)

Answers (1)

former_member206976
Active Contributor
0 Kudos

Hi,

As krishnan told it is not possible to cancel the utilization once run, if it is require you can cancel the accounting document, and again you have to post JV for correct utilization values but you cannot change the values invoice posted in the excise books.

regards