Dear All,
In Case there is an asset brought by Plant A and it has paid Excise Duty on such Asset. It can be Utilized in 2 years(50% in each year). Assume the Plant has utilized the Cenvat of first year and in the subsequent month it had to transfer the asset to another Plant.
1) It has to transfer the un-utilized Cenvat to the receiving Plant of Asset. How to achive this?
2) Even in case of utlized Cenvat, as per Law, you can avail 2.5% Credit only per quarter. How to pass an adjustment entry to reverse the availed Cenvat Credit.
Thanks & Regards
Surya