Home Highlights February 2014 Year 2014 This

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1. Cenvat credit on capital goods - No credit was availed in the initial (first) year - Whole of the credit (100% credit) was availed in the subsequent year - There is...

2. Cenvat credit on capital goods - assessee availed 100% credit in the first year itself instead of 50% - in credit remained non utilized no prejudice caused to revenue - HC

3. CENVAT Credit - Capital goods - 100% credit availed in the first year - Since the appellant has already compensated the Central Government by paying the interest, the...

4. Irregular availment of CENVAT Credit - 100% CENVAT credit on capital goods availed in the first year instead of 50% - they had sufficient balance in their CENVAT credit...

5. Though the assessee is entitled to cenvat credit of 50% on the capital goods in the year of receipt/ balance 50% is available to them in subsequent year. Availing credit...

6. 100% CENVAT Credit availed on capital goods in the same year - removal as such or not - capital goods which were put to use and when cleared from the factory, would be...

7. Denial of CENVAT Credit - inputs/capital goods or not - HR, MS and SS plates received and utilized during 2003 to 2005 for setting up of Copper III plant - The Tribunal...

8. CENVAT Credit on capital goods - there is no time limit is stipulated under the Cenvat Scheme, for taking credit on capital goods, since as per the scheme, the balance...

9. Cenvat credit on capital goods – part credit was availed in 1st year - subsequently finished goods exempted - balance credit in subsequent years - right accrued is not...

10. CENVAT Credit - capital goods - manufacture of exempted goods - On analysis of CENVAT Credit Rules, 2004 particularly Rule 6(6)(v) which are explanation to Rule 6(4),...

11. CENVAT Credit - Capital goods - initially capital goods used for manufacturing of exempted goods only - later using the same in manufactruing of dutiable goods does not...

12. CENVAT Credit - capital goods - at the time of procuring of capital goods, the appellant was availing Area Based Exemption which was expired during the FY - appellant...

13. CENVAT Credit on "Steatite Ceramic" falling under CTH 6804 availed as 100% as inputs instead of 50% as capital goods during the first year - interest on 50% to be paid...

14. Cenvat credit - Once the credit is availed, the use of such credit is governed by Rule 3 of the Cenvat Credit Rules, 2004. Sub-Rule (4) of the said Rule stipulates that...

15. Cenvat Credit on capital goods - simultaneous availing depreciation - As per Rule 4(4), it clearly provides that only part of the value of capital goods which represents...