Imports Capital Posting !!
Hi
During part2 posting (RG23C) for imported material(direct import - no trading activity) we see that half of CVD (with 2% & 1%) goes to cenvat on hold and half goes to cenvat clearing but full amount of ADC goes to cenvat clrg ....which is wrong ..... here also half should go to cenvat on hold and half should go to cenvat clrg.
Any ideas why this might be happening?
Thank You
Hi,
Refer the OSS Note ::910681
Summary is as below
Credit Rules
A manufacturer can take credit of ADC
A service provider can not take credit of ADC
100% credit can be taken for capital goods in first year itself.
Utilization Rules
ADC can be utilized against any excise duties except Service tax and ECS on service tax.
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Now am facing a problem at the posting of Excise Invoice of Import Capital good where BED,ECESS,SCESS are picking 50% and the AED is picking 100% of the value in Part II entries.
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Thanks.Hi
check following link
[http://www.sdn.sap.com/irj/scn/go/portal/prtroot/docs/library/uuid/808c60ca-013b-2c10-34a2-94d1eb442e6f?QuickLink=index&overridelayout=true]
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Regards,
VivekDear Vivek,
How to avail CENVAT / Capital Goods Credit
The Cenvat scheme is a system whereby a manufacturer can avail of credit of the duties paid by a manufacturer of his raw materials, inputs, parts and components or his capital goods to pay his own Central Excise Duty.
This is intended to ensure that no manufacturer is forced to pay duty on the duty portion of his product. Briefly, in order to avail the CENVAT credit, the goods manufactured or produced have to pay duty. All inputs if used in the manufacture of the final product are eligible for Cenvat {except high-speed diesel oil and motor spirit (petrol)}.
All capital goods actually used in the manufacture of the final products are also eligible
All finished goods are eligible for the benefit of Cenvat except matches. However, availment of Cenvat on capital goods will be spread over two years, half in the first year.
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There is no difference between capital goods and raw materials with respect to pricing procedure.
But when it comes to availing credit, Capital goods cenvat credit allowed 50% immediately and balance 50% after commining and installation of equipment or after 6 months or completion of fiscal year.
When cenvat credit for the capital goods are availed for the first 50%, the credit accounts are picked from GRPO transaction type and debit accounts from the CAPE. During Subsequent credit availment both credit and debit entries are picked from CAPE.
For Domestic proceurement of Capital Goods
<b>During GR</b>
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<b>During Excise Invoice Credit </b>
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Vendor Payable Cr
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Cenvat On-hold Cr. (50%)
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Raghu -
Hi all,
We are importing capital equipment. Kinldy let me know how to do this.
> I have raised a PO with a non valuated material with "A" in item category and an Asset number in account assignment category. All the duties got captured in PO
> Now when Im doing MIRO for CUSTOMS OFFICER, system is posting all the entries to the G/L account that got maintained in the ASSET MASTER. _But instead it should be posted to the respective CENVAT accounts for excise capture_.
How to resolve this?
Please note that the non valuated material in the stock will be settled to the asset at the later stage.
Regards
Ayyallashi
please check that you have specified the CVD account in
LOG GEN> > > > Maintain Company Code Settings
here check that you have aintained CVD acocunt
then also check that you have defined the Gl account in Specify G/L Accounts per Excise Transaction
for Excise Transaction Type CAPE with Sub Transaction Type IP -
Credit of Add Custom Duty in capital purchases at the time of J1iex
Hello,
As you all are aware that Indian law allows taking the 100 % credit of additional customs duty in case of capital procurement and only 50 % credit of CVD, Cess on CVD and S Ces s on CVD at the time of J1iex in first year itself
We are facing the problem in PRD client that, we are not able to take the 100 % credit of Additional Customs duty at the time of posting the J1iex. System considering only 50 % for all duties.
I have tried the same scnerio in development client and observed that it is working ok there.
Request you all to give your inputs on the above.
Thanks,
Vikas RanderCheck this answered links [import capital AED 50 % |Re: import capital AED 50 %;
[Capital Procurement in SAP|http://www.sdn.sap.com/irj/scn/go/portal/prtroot/docs/library/uuid/808c60ca-013b-2c10-34a2-94d1eb442e6f?quicklink=index&overridelayout=true]
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