CENVAT Management?
WHAT is your CENVAT Management? Have you heard about this management? This is the new mantra of the Revenue bosses. From Board down to Assistant Commissioners, all the officers ask their subordinates about their CENVAT management. This in simple terms means, how the CENVAT credit utilisation is being restricted/controlled/denied by persuasion and coercion. In the last month of the fiscal, as they are far behind their targets, senior officers expect their subordinates to garner revenue by any means - anything is fair and one of the methods is to force the assessees to refrain from utilising their CENVAT credit for payment of duty/tax. Similarly there are refund management and advance management that is collecting next year's tax this year. Other management techniques will also be invented in the next few weeks.