Stay abreast with the latest developments in the professional domain along with in-depth analysis through the monthly BCA Journal. Get access to an engaging library of researched publications from the BCAS stable.
Learn MoreImportant Amendments by The Finance (No. 2) Act, 2024 – Charitable Trusts
Read MoreImportant Amendments by The Finance (No. 2) Act, 2024 – Capital Gains
Read MoreImportant Amendments by The Finance (No. 2) Act, 2024 – Buy-Back of Shares
Read MoreImportant Amendments by The Finance (No. 2) Act, 2024 – Re-Assessment Procedures
Read MoreImportant Amendments by The Finance (No. 2) Act, 2024 – Block Assessment
Read MoreImportant Amendments By The Finance (No. 2) Act, 2024 – Other Important Amendments
Read MoreBCAJ Brieficles are short-format, web-only articles on contemporary topics of professional importance that are open-for-all to read & share.
Explore BrieficlesExplore past issues of BCA Journal & indulge in a treasure trove of high-quality professional content across format of print, videos & learning events from the BCAS stable.
Learn MoreMonthly mouth-piece of BCAS, the BCA Journal is a leading publication that has been in continuous circulation for more than 53 years. Over the years the BCAJ has become synonymous with high-quality & authentic content across fields of finance, accounting, tax & regulatory matters. The BCAJ has wide circulation across India & commands huge respect amongst the Chartered Accountants` community.
Learn MoreFor queries, collaborations, and insights to forge, Drop a line, share thoughts, inquiries galore, At BCAJ, your messages, we eagerly explore.
Learn MoreCENVAT credit — Bills of entry showing address of some other unit but goods received at the factory — Credit cannot be denied even if it was not claimed immediately on receipt of goods and even if the address not mentioned on the bill of entry.
The appellant received goods at the factory, however, the bills of entry showed the address of their head office. Moreover, the credit was claimed after a span of one year. The Department relying on the case of Marmagoa Steel Ltd. (2004) 178 ELT 480 (T) denied the credit on two grounds: the address of the factory was not mentioned in the bills of entry and the credit was supposed to be claimed immediately on receipt of goods.
Held:
The case on which the Department was relying had been reversed by the Bombay High Court and such reversal has been affirmed by the Supreme Court 229 ELT 481 (SC). The credit cannot be denied to the appellant merely on the ground that credit was not taken immediately. The Tribunal further observed that not taking credit immediately affected the assessee more than the Revenue.