CENVAT On hold account settlement

Hi,
In case of Capital Goods, I want to know how do we settle the CENVAT on Hold Account?
50% is goes to the Cenvat Receivables in the first year and rest 50% to CENVAT on Hold Account.
Next year how do we settle this CENVAT on Hold Account? Is this manual or automatic Process?
if some one know Pls Reply
Regards,
Ashish Vats

Hi Ashish,
This step has to be carried out manually. You have to use Tcode: J2I8 for carrying out this process. (Path: TCode: J1ILN (for SAP easy access india localization menu):indirect taxes --  procurement -- excise invoice -- reports -- J2I8 - Balance credit for capital goods)
Go to this transaction, input company code, plant and excise group and you can minimize selection by vendor, excise invoice number, date etc. Then execute.
The system will show all the CENVAT on Hold entries. You have to manually check the entries depending upon the date and settle the entries.
Hope this clarifies and helps.
Thanks,
Viswanath

Similar Messages

  • Transfer Balance from Cenvat on hold account to ceenvat clearing account

    Dear All,
    Though the new year from excise point of view has begun....
    Now i want to utilised the capital amount which was in cenvat on hold account in last year.
    How do i move further so that i can utilise that 50 % amount this year.
    Am i need to transfer the amount from cenvat on hold account to cenvat clearing account?
    Please guide me with step by step.
    Thanks in advance.
    Shailesh

    Dear Shailesh,
    You can use the T.code J2I8 for transfering the On hold Credit by giving the Company code, Excise group & posting date. When you execute it you can see the balances per Vendor as line item entries. Select it & transfer. In the Accounting view you can see that Your cenvat clearing will get Credited & your Onhold A/c will get debited.
    Award Points if its useful.
    Thanks & Regards,
    SAP FC

  • Transaction code for excise JV especially to cenvat on hold account

    Friends,
    Can anyone advice that in system for correcting excise register, the jv have to be posted for the following accounts-
    cenvat on hold
    RG23 BED
    RG23 ECS
    RG23 H CESS
    cenvat clearing account
    By which transaction code, jv to be posted. I know that for RG23 BED, ECS, H CESS, Cenvat clearing account can be corrected by using transaction code - J1IH but in my case i have to correct cenvat on hold account also for assets items.
    Can anyone advice how to proceed.
    Thanks
    Madhukar Mittal

    like u have done following enrty
    cenvat on hold     115 +
    RG23 BED     100 +
    RG23 ECS        10 +
    RG23 H CESS    5 +
    cenvat clearing account   230 -
    now u want to reverse it right
    then u will first have to go to J2I8 and tahe the credit of 115 cenvat on hold account
    so that
    RG23 BED     100 +
    RG23 ECS        10 +
    RG23 H CESS    5 +
    will come to RG 23 C register on credit side
    so ur RG23C registure will have
    RG23 BED     200 +
    RG23 ECS        20 +
    RG23 H CESS    10 +
    now use J1IH other Adj select Rg23C
    for amount
    BED     200
    ECS        20
    H CESS    10
    so that the entry will be passed
    RG23 BED     200 -
    RG23 ECS        20 -
    RG23 H CESS    10 -
    cenvat clearing account   230 +
    this is the std sap way to reverse the Captial credit taken
    hope this helps

  • Correction in cenvat on hold account, debit entry to be posted

    Dear Friends,
    During PGR, Correct entry is
    BED - Rs 25600+
    CESS - Rs 512+
    HCESS - Rs 256+
    CENVAT ON HOLD - Rs 26368+
    CENVAT CLG ACCOUNT - Rs 52736-
    But one document found with the following below mentioned entries  -
    BED - Rs 25600-
    CESS - Rs 512-
    HCESS - Rs 256-
    CENVAT ON HOLD - Rs 26368-
    CENVAT CLG ACCOUNT - Rs 52736+
    Now correction is required, RG23 entries i will correct by J1ih, regarding Cenvat on hold, anyone advice, how can be corrected.
    Thanks
    Madhukar

    like u have done following enrty
    cenvat on hold     115 +
    RG23 BED     100 +
    RG23 ECS        10 +
    RG23 H CESS    5 +
    cenvat clearing account   230 -
    now u want to reverse it right
    then u will first have to go to J2I8 and tahe the credit of 115 cenvat on hold account
    so that
    RG23 BED     100 +
    RG23 ECS        10 +
    RG23 H CESS    5 +
    will come to RG 23 C register on credit side
    so ur RG23C registure will have
    RG23 BED     200 +
    RG23 ECS        20 +
    RG23 H CESS    10 +
    now use J1IH other Adj select Rg23C
    for amount
    BED     200
    ECS        20
    H CESS    10
    so that the entry will be passed
    RG23 BED     200 -
    RG23 ECS        20 -
    RG23 H CESS    10 -
    cenvat clearing account   230 +
    this is the std sap way to reverse the Captial credit taken
    hope this helps

  • Cenvat Hold Account

    I have a problem pertaining to excise.
    1,  I have done GR  and have filled up all the excise related details.During GR RG 23 A PART I is updated.
    2.Capture Excise invoice(J1IEX)During this step i  am posting vendor excise invoice with a rejection code.I am putting rejection code as because there is some
    Dispute with the excise invoice.If i capture excise invoice with rejection code then part ii is updated but the excise amount will be posted to cenvat on hold account(This excise amount cannot be utilised for other goods clearance).But in my case the excise amount is  debited to normal cenvat GL instead of
    Cenvat hold GL. Secondly in Logistics General----Business Transaction.......maintain rejection codes.In the 3rd coloumn of Maintain rejection code i have to enter a key.Can u please explain whether this key is tagged with any G/L ACCOUNT.If you can please explain how excise invoice with rejection code is posted
    To Cenvat Hold Account.
    2. Pl  let me know  how  automatic Account determination is configured  for excise related matters
    thanks,
    Manash Das

    Hello,
    We thought you were doing Domestic proceurement of Capital Goods, please check these accountinng entries get generated or not.
                During GR
                                        Material Stock            Dr.
                                        GR/IR clearing                        Cr.
                During Excise Invoice Credit           
                                        Cenvat Account          Dr.       (50%)
                                        Cenvat On-hold          Dr.       (50%)
                                        Cenvat Clearing                     Cr.
                During Invoice Verification
                                        Cenvat Clearing         Dr.
                                        GR/IR Clearing           Dr.
                                        Vendor Payable                      Cr
    if not check account determination of CIN
    Regards
    Mahesh Naik.

  • 50 % transfer to cenvat on hold a/c

    Hi CIN Experts,
    When I have transfer the capital goods transfer on credit to next year through J2I8, but some of the entry has not been transfer to the current Cenvat On Hold account. In J2I8, I have given co. code, plant, posting date & excise group & selected list based on part 2 number. At the time of transferring, only SED available amount are not transferring means on that row BED, AED, SED, ECS, SECESS-Available but are not transferring. So here I am getting error that u201CBalance has occurred 'INR' with the following details in transaction currencyu201D. Exchange rate '00', amount ' 87.77-' and currency key 'INR'. The data in the transaction currency were transferred from the calling application.
    Procedure- The error is probably in the calling application. Message No.-F5702. Please advice me how to transfer the balance amount.
    Regards,
    Manoj

    Hi,
    by using T-code J2I8  we can transfer cenvat on hold balance to next year.

  • Transfer of CENVAT ON HOLD Amount

    Hi Friends,
    When we get the CENVAT on capital goods, 50% will be in CENVAT ON HOLD account till the next year. But in the next year is there any specific transaction  to run for transfering this 50% to CENVAT Clearing account? How to Transfer this amount other than posting through JV?
    Thanks in advance
    ssp

    Hi,
    by using T-code J2I8  we can transfer cenvat on hold balance to next year.

  • Difference in Cenvat on Hold transfered for FY 2008-09 into FY 2009 -10

    Dear Experts ,
    Total balance in cenvat on hold account as on 31.03.09 was Rs. 1792146.18 whereas balance trf. from hold to diff. GLs' on 28.04.09 is Rs.1958733.58. Hence balance is excessively transfered by Rs.166587.40.Amount of Trf. to different GLs' is also not correct. Amount is excess trf. in BED GL & less trf. in E.cess & she cess GL.
    Can any one tell me how can i make the correction to the updated g/l account amount through SAP
    Regards,
    Beldari

    Hello ,
    Correct me if i am wrong , but i think the dates for comparison taken by our are wrong .
    While u have transferred the balances from hold to respective g/ls , on 28.04.09 , did u also transfer the  hold balances for the transactions between 01.04.09 - 28.04.09 ???
    Just check if the difference amount tallies with it .
    Once transferred , u cannot reverse the excise gl entries ,
    U will have to pass a JV using J1IH + Other adjustments .
    Regards
    Anis

  • Cenvat hold account(urgent)

    pl suggest me
    I run the cycle for procurement of ASEET,accounting document Debited Cenvat hold account with 30000INR(SAY).
    How i go for taking credit for that account ?Pl explain in detail.

    Hii,
    50% Cenvat on Capital Goods is deffered to the Next year , You can utilize in the next year thats why u require Onhold account.
    If it is IMG
    then Maintain the the Onhold Cenvat Account agaisnt the GRPO in the Specify Excise Accounts Per Excise Transaction.
    Regards,
    Kumar

  • Cenavt on Hold Account - Capital Goods 50% Credit

    Hi Gurus,
    As per PO , Basic Duty is 800.00 + 2% Cess - 16.00 + 1% Secc - 8.00, but when I Post the Excise Duty, 50% Duty is correctly posted in respective G/L Account as 40084 , but the balance 50% credit in Cenvat on Hold A/c is showing value as only 396.00 instead of 412.00 ( We are using ECC 6.0)
    Can some body help me why Cenvat on Hold a/c shows wrong value.
    Thanks in advance.
    Rgds,
    Vikas

    Answered

  • Error in excise JV debiting RG23C basic+Cess to RG23C cenvat on hold

    pl Hi experts
    Facing below error in excise JV
    XXXXXX G/L account is not identified in the General Ledger Master
    Steps
    J1IH-Other Adjustment
    Modvat a/c selection:RG23C
    On clicking Determination of GL account following GL a/c are appearing
    RG23C Basic ED     Dr
    RG23C Cess           Dr
    RG23C S Cess       Dr
    Cenvat clearing         Cr
    When I am replacng Cenvat clearing GL with RG23C Cenvat on Hold above error is there i.e.
    XXXXXX G/L account is not identified in the General Ledger Master
    Pl help where is the issue as G/L of RG23C Cenvat on Hold is required to be debited
    thanks in advance

    Can you post the message number ?
    Also your post related to excise, you should choose correct forum..
    cc Jyoti Sir.
    Regards
    Dev

  • Cenvat on hold

    Hi,
    For my capital imported item having customs and excise conditions , when I checked Part 2 account entries , I find that amount under CENVAT ON HOLD does not include AED amount. Rest of the duties like BED,E Cess & Sec E Cess are all considered under 50% amount . Pl let me know where and what can I get into to include this amount @50%.
    Thanks & Best Regards,
    AK

    U check
    CAPE with
    Cenvat Hold  Cr
    Cenvat Hold      Dr
    Remaining Taxes      Dr
    and GRPO
    Cenvat Clearing     Cr
    Cenvat Hold          Dr
    Remaining Taxes  Dr
    Thanks
    Prasad

  • On hold account is missing

    Dear all,
    Scenario is as below:
    1) AP Invoice - Service Type created by me.
    2) Now I want to create AP Credit Memo based on above document - the error is coming :-
    "ON HOLD ACCOUNT IS MISSING"
    Pls give solution,
    Regards
    Ravi Kumar

    Hi,
    Please check Note No. : [1601484|https://b1-support.wdf.sap.corp/sap/support/notes/1601484]
    Kindly check the issue by upgrading the database to 8.81 Pl08 where the issue is fixed.
    Extracts of the Note :
    Symptom
    You are working in Indian localization. You post the Service Invoice with tax code containg the CENVAT tax type. The CENVAT tax is calculated and posted to the CENVAT Clearing Account. When you want to credit such invoice the error 'On hold account is missing' pops up and Credit Memo cannot be added.
    Please, use Service Tax Type when post Service Invoice.
    You can post standalone Credit Memo with the tax code used in the service Invoice and later reconcile transactions.
    Cause
    Application Error
    Solution
    SAP intends to provide a patch or patches in order to solve the problem described.
    The section Reference to Related Notes below will list the specific patches once they become available.
    The corresponding Info file of the patches in SAP Service Marketplace will also show the SAP Note number.
    Be aware that these references can only be set at patch release date.
    SAP will deliver patches only for selected releases at its own discretion, based on the business impact and the complexity of the implementation.
    Kind Regards,
    Jitin
    SAP Business One Forum Team

  • Asset Creation with intermediary Asset Holding Account

    Hello Gurus,
    We are on ECC6.0 and SRM 7.0 , business requirement is to procure the asset from the P2P cycle and have an Asset Holding account as an intermediary account. And at Month End post the balance from the intermediary account to the main asset account after review.
    Business has clear requirement to have the all posting first going from the P2P cycle to a Asset Holding account( intermediary account) and at month end review the same  and than create the asset and than  transfer the posting from Asset holding account  to the Main asset Account.
    Can you please provide inputs how do we address the same.
    Thanks & Regards
    Rutvij

    Hi
    I understand about the AUC after checking various threads on SDN.
    But i am wondering is my requirement addressed
    'Business has clear requirement to have the all posting first going from the P2P cycle to a Asset Holding account( intermediary account) and at month end review the same and than create the asset and than transfer the posting from Asset holding account to the Main asset Account"
    So if we go with AUC , we need to create a asset number before the procurement process starts.
    At the completion of the AUC once the asset is settled, for the new asset  procurement business will have to create a new AUC asset number.
    Hope I am able to help you in understanding the requirement.
    Any inputs in this regard are helpful
    Thanks & Regards
    Rutvij

  • Reverse Excise duty on hold account

    Dear Experts,
    i want to reverse the amount wrongly posted in RG23C Part 2 through J1IH Other Adjustment. But it is not reversing the on hold amount but reversing the total amount from the Input Accounts.
    how do i reverse the amount in On hold account as well?
    Regards
    Suresh

    any help?

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