Hi Gopi,
If the material is declared as raw material in both the plants the above process is right.
From Sending plant: PO(PO raised by recieving plant) -> Delivery -> Billing Document(Proforma Invoice) -> Excise Invoice
This material will be in RG23A register, Here you are reversing the Cenvat input credit by paying the same to government through excise invoice created in J1IIN.
In Recieving plant: MIGO -> J1IEX Here also RG23A register updated for both part1 quantites & part 2 values. Here you can take input credit.
Regards,
S.Himavanth.