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Caliming of cenvat with a view of provisons of Rule 4(4) , Service Tax

Issue Id: - 299
Dated: 14-12-2006
By:- Tilak Minocha
Caliming of cenvat with a view of provisons of Rule 4(4)

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please clarify the provisions of Rule 4(4) of Cenvat Credit Rule, 2004 w.r.t. the following example: Cost of Asset=100 (basic) Excise on above=16 Cenvat Claim in first year=50% of 16=8 Depreciation claimed in first year=100*15%=15 How much Cenvat can be claimed in the first year and second year keeping in view the provisons of Rule 4(4)

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1 Dated: 15-12-2006
By:- Surender Gupta
In the query it is clear that you have not availed any depreciation on the portion of Cenvat Credit, therefore, you are eligible to claim cenvat credit of Rs. 8 the first year adn balance of Rs. 8 in the subsequent year.

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