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Excise process on materials procured on description

Hi all,

1) Excisable material is procured on description.

how can excise process take place for this . ( CENVAT & VAT ).

thanks

Former Member
Former Member replied

Hi.

Maintain proper condition records for Plant/material Group.

maintain number ranges for objects J_1IRG23C1 & J_1IRG23C2** in SNRO transaction.

Create PO with proper account assignment.

Do GR & Post excise invoice for the same.

50% CENVAT will go in Suspension account bcoz the material with only description is considered as Asset.

Only 50% Cenvat credit can be taken in current financial year.7 remaining 50% in next financial year.

Regards,

Satpal

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