Dear all,
I read as below:
"If there is debit balance at the end of year in ''Cenvat'' account, it means that credit is not fully utilised and should be shown under Current Assets under ''Loans and Advances''...........
can anyone please throw some light why unutilised cenvat should be shown under Current Assets under ''Loans and Advances''?

From India , Delhi
Cenvat Credit is utilised monthly for the excise payable on the removal of goods from factory Therefore if in some months there is a debit balance in the Cenvat account, these balances can be used in future to offset the Excise duty liability. So it like an advance lying with the Excise authorities and hence clubbed under loans and advances.
From India , Mumbai
Well Said Nishant! You had made it absolutely clear.
To Chamatkari,
You know cash or bank balance is a current asset. This can be utilized in meeting your liabilities both current or long term.
Similarly, this debit balance in "Cenvat Account" can be utilized in settling your future liability against excise duty liability. Had this debit balance not been there, then you might have to use your cash or bank balance to settle the same. So to some extend this debit balance s like cash or bank balance.
Ashutosh Rai

From India , Pune
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