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Dear gurus,
Kindly take a look at the case below. I really need your suggestions
Thanks very much in advance,
Regards,
Tejendra
| | | ---------------Original Message---------------
From: Tejendra Soni
Sent: Monday, April 04, 2011 12:37 AM
Subject: Decapitalization of Assets after Depreciation posted
Dear all,
I need your inputs for the below scenario for how to perform this treatment
in SAP.
Case :
Cenvat Credit Reversal for Excisable Assets - From all the exciseable assets
procured after 1st April, 2010, the client has availed cenvat credit. The
gross block amount of assets include the excise duty paid. And the
depreciation till 31st December, 2010 has already been charged on that gross
block amount. No Cenvat credit should be taken and therefore, the client
would like to reverse the excise duty part of the Gross block of all the
Assets from the date of capitalization(back dated) and accordingly the
adjust the posted depreciation as well.
Expected Accounting Entries are :
RG - 23C (CENVAT) AssetDr
RG - 23C (EDU CESS) AssetDr Duty Amt to be decapitalised
RG - 23C (HIGHER EDU CESS) AssetDr
RG - 23C (SPL ADDL DUTY) AssetDr
CENVAT ON HOLD AssetDr
To, Assets account Asset Cr
Assets Account AssetDr Dep reversed to the extent of Excise duty decap
To, Depreciation Exp Cr
Kindly let me know how to go about it.
Thanks a lot for your inputs.
Regards,
Tejendra SONI
+91 99203 60298
--
Tejendra SONI |
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