CENVAT-CAPITAL GOODS
HOW TO CARRY FORWARD 50%CREDIT IN CENVAT CAPITAL GOODS AND WHAT ARE THE STEPS INVOLVED. PLEASE CL...
J2I8 transaction code- give comp code, excise group, plant. then execute
you will get list of vendor excise invoices
you check required excise invoices and click on 'transfer credit'
you will get entries in RG23C part 2 register.
regards
prasad
Similar Messages
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CENVAT CREDIT 100% TAKEN IN CASE AED ON CAPITAL GOODS INSTEAD OF 50%
Hi Experts,
This is with reference to the Cenvat Credit taken on Additional Excise Duty Payable on Capital Goods.
Presently in SAP 100% Cenvat Credit has been taken into 26010713 CENVT CAP GOOD (CAD) but as per law 50% Credit should be taken in the same year in which
Duty has been paid and balance 50% should be taken in next year.
The same treatment has been taken correctly in excise records.
And i want to know only for imported there has been any law change regarding 100% credit should be paid in same year.
Regards,
ManjaxYes, this is std behaviour of the system,as per the law the AED will be allowed to take 100% credit in first finanacial year only.
For more information refer the below link.
http://www.sdn.sap.com/irj/scn/go/portal/prtroot/docs/library/uuid/808c60ca-013b-2c10-34a2-94d1eb442e6f?quicklink=index&overridelayout=true -
Cenvat credit of Capital goods
Hi,
From the last year 2011, I heard that the cenvat credit for capital goods can be taken 100 % in the first year itself.
How to the make the changes accordingly so that the 100 % tax amount goes to cenvat account instead of posting 50% to cenvat account & 50 % to cenvat on-hold account and then doing J2I8 to transfer of credits from cenvat on-hold account to cenvat account.
Regards
MadhusudanAny solutions??
regards
Edited by: madhusnb4 on Jan 23, 2012 1:27 PM -
Hi all,
Whenever credit on capital goods need to be availed, you can claim 50% of credit at the time of receipt by specifying ‘Yes’ in the ‘Claim CENVAT.
Now I want to know that where I have to setup / define the percentage of CENVAT credit the user wants to take immediately on PO receipt of the goods.
regards
SanjayHi
I know the standard scenario for Excise and its related settings. Our system is also working absolutely fine for the 50% Cenvat credit utilization.
But the customer wants to have a process like that of as I had explained earlier.
Can you suggest whether it is possible.
Thanks,
Chaps -
Posting of cenvat credit of 50% on capital goods through T.Code:J1IH
Hi
Please advise me the procedure for posting of cenvat credit of 50% on capital goods through T.Code:J1IH.
As a matter of fact, when i tried to post the last year credit of 50% cenvat credit on capital goods the system accepting 50% only.
For example, last year we got Rs.200000 as cenvat credit and out of that 50% credit of Rs.100000 got availed last year. In this year when i tried to avail of remaining of Rs.100000 through transaction code J1IH system is accepting 50% of Rs.100000 i.e only Rs.50000 is accepting.
I look forward for your reply
Thanks and Best Regards
Shekhar
Edited by: Shekhar Yecham on Sep 16, 2008 8:54 PMHello,
The settings before 01.04.2010 were same. However, after thorough checking of the GL A/cs, I have following observations -
1) Plant 1 - Balance as on 31.03.2010 in Cenvat on Hold A/c -Rs. 195080. It is upload balance & t.code used is FBVB
There are some more transctions in this A/c which are reversed due to wrong entries.
Balance in Excise Duty RG 23 C as on 31.03.2010 - NIL
2) Plant 2 - Balance in Cenvat on Hold A/c as on 31.03.2010 is Rs. 166701. Again this is an upload balance with FBVB
Balance in Excise Duty RG 23 C as on 31.03.2010 - Rs. 56931.62
3) Plant 3 - No upload balance. All the transactions are routed through J1IEX except 1 from FB01
Balance as on 31.03.2010 - Cenvat On Hold A/c - Rs. 86876.06
ED RG 23C - NIL
Hence, would like to know -
1) Any separate procedure to take the credit of upload entries?
2) If the Balance in ED RG 23C A/c is NIL, will it affect on taking credit?
Thanks & Regards,
Reshma -
100% cenvat on capital goods
Dear all,
How can 100% cenvat be availed in case of capital goods in case of transfer from one plant to another.
The T-code used is J1IHYes, this is std behaviour of the system,as per the law the AED will be allowed to take 100% credit in first finanacial year only.
For more information refer the below link.
http://www.sdn.sap.com/irj/scn/go/portal/prtroot/docs/library/uuid/808c60ca-013b-2c10-34a2-94d1eb442e6f?quicklink=index&overridelayout=true -
Cenvat credit on capital goods.
Dear all,
1. There is a rule that the cenvat credit in respect of capital goods shall be allowed for the whole amount of the duty paid on such capital goods in the same financial year if such capital goods are cleared from the factory as such in the same financial year.
2.The system is designed in such a way that the cenvat credit in respect of capital goods received in a factory or in the premises of the duty paid of output service at any point of time in a given financial year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year.
Please suggest us how to configure the system for the point no :1
Thanks & Regards,
A.Anandarajan.By standard 50% credit can be taken on first year,If u want to take full credit use transaction J2I8,
Also refer both links
SAP MM CIN Settings
http://www.sdn.sap.com/irj/scn/index?rid=/library/uuid/207dd2ad-bf92-2b10-a88b-e3a4a01ca7fc
Capital Procurement in SAP
http://www.sdn.sap.com/irj/scn/index?rid=/library/uuid/808c60ca-013b-2c10-34a2-94d1eb442e6f
Edited by: Jeyakanthan A on Apr 22, 2010 2:01 PM -
CAPITAL GOODS CENVAT FOR 2007-2008
hi,
This is with reference to Cenvat of Capital Goods I.E.50 % of 2007-2008,We have uploaded balance on 16 th Nov-2007 & now this balance we haveto utilize in current year. What will be the procedure for Excise & Finance Record. ?
Please give the detail procedure & also note that we have done J2I8 for the period 16 u2018th Nov-2007 to 31u2019st Mar-2008
regards
sspJ2I8 transaction code- give comp code, excise group, plant. then execute
you will get list of vendor excise invoices
you check required excise invoices and click on 'transfer credit'
you will get entries in RG23C part 2 register. -
CENVAT reversal of capital goods after Vendor payment
Hello all,
I want to reverse CENVAT for capital goods. In this case, MIRO is already done and Vendor payment is also carried out.
Please suggest the steps by which I can reverse CENVAT properly.
KapilHi,
Refer thread for option
return material to vendor after IV is done + CIn
Regards,
Biju K -
Availing full CENVAT Credit for Capital goods
Hi,
In our client, they want avail full cenvat credit for Capital goods in the present fiscal year itself. How can we do this in SAP? Plz. explain me.Hi Pawan,
You cannot avail total 100% Credit on the CENVAT paid on capital purchase as per the goverment rules.
The puirpose of maintaining the goods as capital goods are that you are only eligible for 50% credit in the current fiscal year and remaining 50% Credit in next Fiscal Year. its nothing that we configured, it is standard functionality in the country version. The Excise Transaction Type CAPE which come in to play at the time of capital procurement.
1. If your Client Requirement is to take 100% Credit for this material, then ask them to maintain Chater ID for this Material in J1ID as RAW materail. and During Excise Auditing period your client has to give relevent explaination to Excise Authority.
2. If your client has maintained in J1ID as capital , you can take the Remaining 50% Credit in current fiscal year also using J2I8, Before using this transaction verified from Excise Authority.
Or else As per my knowledge you cannt take 100% excise credit for Capital goods.
Cheers
Manoj K Singh -
While taking balance cenvat credit on capital goods not showing J2I8
DEAR ALL
While taking balance cenvat credit (Carry forward) on capital goods not showing in J2I8 transaction, in j1iex is Header level is showing INPROCESSES But item level is showing POSTED.
in register PART2 is Upted.
Thanks And Regards
SonuHi,
In capital goods procurement we will use 50% excise this year and rest of 50% credit we will use it in next year.
Bcoz of this in header level its showing incomplete and the invoice posted for 50% created Part 2 entries.
Hope its clear.
reg
Durga
*Assign points if the info is useful -
Cenvat on Capital Goods Procurement (CIN)
Hi SAP Gurus,
With respect to the Capital Goods procurement in CIN, my client has requested the following process -
Capital goods have 5 years useful life and want to sell it after 3 years usage -
Excise on the Capital Goods = Rs.20,000/-
So this year Cenvat Credit = Rs.4,000/- and the next 2 years Cenvat Credit = Rs.4,000/- each
Total Cenvat credit = Rs.12,000/-
(which is calculated as 20,000 INR / 5 year * 3 year = 12,000).
But the Cenvat balance of Rs.8,000 [20,000 12,000] should be added back (cancel the offset) and it should be assinged to cost.
Is the above process possible in SAP..???
Can anyone please let me know.
Thanks & regards,
ChapsHi
I know the standard scenario for Excise and its related settings. Our system is also working absolutely fine for the 50% Cenvat credit utilization.
But the customer wants to have a process like that of as I had explained earlier.
Can you suggest whether it is possible.
Thanks,
Chaps -
How can we claim 100% cenvat credit on capital goods relating ADDl CVD
Due recent changes in Excise Law we can claim 100% Cenvat credit on ADDL CVD. But as per the present Oracle India Financial set ups it is not possible to claim 100% on capital goods in the same year.
Hi,
First of all, As per our country legal and statutory requirments, we can not utilize 100% CENVAT in the same FY.
Best Regards,
Chandra -
In J2I9 , cenvat not showing in the Abstract for capital Goods
Hi
In the T-code J2I9, System not showing the BED values in Abstract report for Capital goods.
Edcess and HScess are displayed.
excise invoice,RG23 part no. is generated & also values were available in table J_1Ipart2
please replyHi
The BED capital Goods is posted and it is there in the Table also,Ecess and Hsces are displayed .
In the Annexure option of the J2I9, the BED amount along with Ecess and HScess are displayed,
but when we select the Abstract option of J2I9, The BED amount is not displayed,only other two
Ecess and HScess are displayed.
please reply -
Excice invoice captured as capital goods, but material is raw material
All SAP Gurus,
We have wrongly captured (and posted) the excise invoice as Capital goods (RG 23C), but material is Raw material (RG 23A).
Material document can not be reversed as material is already issued and consumed for production activities.
To get the effect in Rg 23 A, we have passed the Excise JV (J1IH - Other Adj.).
Due to this Excise JV, we are getting entry in RG 23A, but the same entry is also displayed in RG 23C.
Is there a way to delete/remove/reverse this entry from RG 23C.
Please suggest,
Regards,Hi,
Use following functions to adjust the duties in RG23A and RG23C;
Go to J1IH - Excise JV
Use following method to reduce duties from RG23C Accounts
Making Adjustment Postings for Other Transactions
Use: - You follow this procedure if you want to make an adjustment posting that does not fall into any of the other categories of adjustment offered by this function. You can only use an external document as your reference document.
Procedure: -
1. J1IH > Excise JV > Other adj.
2. Enter data as required, including:
u2022 Document number
Enter the number of the external document that you want to refer to.
u2022 CENVAT account selection group box
Specify which account is affected by the adjustment posting is for. Here in your case select RG23C.
3. Click on u201CEnteru201D button.
The system displays the information from the material document.
4. Adjust the posting date as necessary and enter Vendor code as per requirement.
5. Enter the amount of excise duty in either of the following ways:
u2022 To enter line items for different materials and the excise duty accordingly, choose u201CDetailsu201D button and enter the line items in the table.
Here fill details like Material Code, Quantity as per Excise Invoice, Batch No, Reference (i.e. GRN Document), BED and Ed Cess Amount manually.
If you want system to propose the BED and Ed Cess Amount, Click on u201CGet Excise Invoiceu201D button and select the proper Excise Invoice from which the proportionate amount is to be copied.
Select the u201CExcise Invoiceu201D and click on u201CContinueu201D button.
It will copy BED and Ed Cess and SECess amount as per the quantity mentioned here. It will be proposed in proportion of selected Excise Invoice quantity and value.
u2022 To enter the excise duty only, choose u201CHeaderu201D button and enter the excise duty in the totals fields at the foot of the screen.
6. Specify which G/L accounts are to be posted to.
7. Save the adjustment posting.
System will post Excise JV Document; Accounting Document with Part2 Serial No has been successfully created.
Use following method to take duty credit in RG23A Accounts
Making Adjustment Postings for Additional Excise Paid by Vendors
Use: - You follow this procedure if a vendor has increased the amount of excise duty that it originally charged you and you want to debit the difference to your CENVAT account.
Procedure: -
1. J1IH > Excise JV > Additional excise.
2. Enter data as required.
In the Document number field, enter then number of the document sent to you by the vendor.
u2022 CENVAT account selection group box
Specify which account is affected by the adjustment posting is for. Here in your case select RG23A.
3. Click on u201CEnteru201D button.
4. Adjust the posting date as necessary and Enter Vendor Name.
5. Enter the amount of excise duty in either of the following ways:
u2022 To enter line items for different materials and the excise duty accordingly, choose u201CDetailsu201D button and enter the line items in the table.
Here Enter Material code, quantity as per excise invoice, reference document (i.e. GRN Document), batch no., BED and Ed Cess Amount to be posted.
u2022 To enter the excise duty only, choose u201CHeaderu201D button and enter the excise duty in the totals fields at the foot of the screen.
6. If the duty qualifies as countervailing duty (CVD):
a. Select CVD applicable.
b. Enter the CVD amount in the BED amount field.
7. Specify which G/L accounts are to be posted to.
8. Save the adjustment posting.
System will post Excise JV Document; Accounting Document with Part2 Serial No has been successfully created.
Then do J2I5 - Extract and J2I6 - Print Excise Registers
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