Excise process on materials procured on description
1) Excisable material is procured on description.
how can excise process take place for this . ( CENVAT & VAT ).
satpal mujawar replied
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.