DOs AND DON'Ts ON CENVAT CREDIT

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..... in the factory premises; * Check whether the inputs/capital goods are specified under Rule 2(k) and 2(a) respectively of the Cenvat Credit Rules, 2004; * Check whether the inputs/capital goods or input services are used in or in relation to the manufacture of dutiable final products or for providing taxable service; * Reverse the credit taken on the inputs/capital goods, which are sold .....

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..... not covered under the definition of capital goods. * Don't avail 100% CENVAT credit on the capital goods in the same financial year instead of 50% * Don't avail Cenvat credit of Service Tax paid on the services which are not used for the manufacture of the final product. * Don't avail Cenvat credit of Service Tax paid on the outward freight beyond the place of removal. - Manuals - Ready r .....

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