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Cenvat Credit

Central Excise - Started By: - Rizwan Ullah - Dated:- 26-11-2016 Last Replied Date:- 29-11-2016 - Assessee purchased certain machinery classified as capital goods falling under Ch- 84 , due to some reason assessee could not take on that invoice issued in 2014. Is Assessee eligible for taking on such invoice in 2016.? - Reply By MARIAPPAN GOVINDARAJAN - The Reply = The Rule provides that 50% of credit should only be taken in the FY during which the capital goods is purchased and the remaining 50% .....

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g credit and you can take 50% of the in the year in which you have received the capital goods. Remaining 50% can be take during any of the years that follows the year 2014. Since more thane one year has elapsed when you intend to take the first credit of 50% in 2016 in my opinion, you are not eligible to take the credit. Even if you take it audit will object it. - Reply By Ganeshan Kalyani - The Reply = The Cenvat paid on purchses is an eligible credit . The time limit within which the credit sh .....

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