EAP: How to Generate CENVAT Credit Accounting Entries Upto a Maximum of 50% of the Amount and Not to Take Credit for the Entire Amount?
Last updated on MARCH 18, 2016
Applies to:PeopleSoft Enterprise FIN Payables - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
How to Generate CENVAT Credit Accounting Entries Upto a Maximum of 50% of the Amount and Not to Take Credit for the Entire Amount?
Accordingly to the CENVAT Credit Rules specified on http://www.cbec.gov.in/excise/new-cenvat-rules.htm the CENVAT credit is only allowed upto a maximum of 50% of the amount you have paid in the current year and the subsequent can be claimed in the following years.
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