Cenvat credit on Capital Goods

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..... Cenvat credit on Capital Goods
Query (Issue) Started By: - shaji thomas Dated:- 22-12-2010 Last Reply Date:- 14-2-2011 Central Excise
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Central Excise
A Company had availed 50% .....

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..... Cenvat Credit on Capital Goods on the first year of procurement when the unit was availing exemption under Notn.8/2003 and has not paid duty during the entire period(period refered is 2006-07). Is it .....

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..... allowed to avail the 50% credit in the first year ie. under exemption or 100 % credit in subsequent years ? Reply By Seetharaman K C: The Reply: There is a distinct difference between availament of .....

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..... CENVAT credit and utilisation of the same. In this case the unit can avail the credit on capital goods in the first year upto the extent of 50% and utilise the credit for payment of duty when the uni .....

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..... t crosses the turnover limit specified after which the goods become excisable. The balance 50% can be availed in any of the subsequent financial years
Discussion Forum - Knowledge Sharing .....

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