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AVAILMENT OF CREDIT ON IMPORTED MATERIAL

Central Excise - Started By: - SANDESH SHINDE - Dated:- 10-7-2015 Last Replied Date:- 13-7-2015 - Dear Sir, We have imported a material (machine) Capital goods first for trail purpose say in 2013 at that time we had paid appropriate customs duty but we have not availed any credit for the said material at that time.At that time we had not availed any Cenvat credit for the same because this machine was suppose to returned to vendor after successful completion of trail run within 4 months but same .....

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imported dated back beyond one as on date. Notification No. 6/2015-CE dated 1.3.2015 amended third proviso to rule 4 (1) of CENVAT Credit Rules, 2004 stating that provided also that the manufacturer or the provider of output service shall not take CENVAT credit after 14[one year] of the date of issue of any of the documents specified in sub- rule (1) of rule 9. In your case the Bill of Entry is the document based on which you can take credit. Since the Bill of Entry was dated 2013, you are barre .....

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ame herewith for your reference and to conclude my answer: Rule 4(2) (a) The CENVAT credit in respect of capital goods received in a factory or in the premises of the provider of output service or outside the factory of the manufacturer of the final products for generation of electricity for captive use within the factory or in the premises of the job worker, in case capital goods are sent directly to the job worker on the direction of the manufacturer or the provider of output service, as the c .....

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oods are delivered to such provider, subject to maintenance of documentary evidence of delivery and location of the capital goods. Explanation.- For the removal of doubts, it is hereby clarified that an assessee shall be eligible if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year computed in the manner specified in the said notification did not exceed rupees four hundred lakhs. (b) The balance of CENVAT credit may be taken in any fina .....

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