Cenvat - devaluation of inventory

Querist : Anonymous (Querist) 07 November 2011 This query is : Resolved
What happens if inventory exists physically in terms of quantities but valuation thereof reduced ? Dowe still have to reverse the CENVAT Credit availed?
Similarly,if the inputs are used in manufacturing and goods exported either without payment of duty or for which rebate claims are filed,what happens to the CENVAT Credit availed?

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Sankaranarayanan (Expert) 07 November 2011
if your input credit is wrong then you have to pay the default amount with reverse rtn , if any penalty then you have to pay for the default delay payment

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