Cenvat on Capital Gooods, Central Excise

[Ramesh Patel]

We are regestered in Excise on 04/04/07. We purchase capital goods and avail 50% cenvat in 07-08. But due to clearence bolow Rs. 150.00 Lacs we could not utilised it in 07-08. In 08-09 we cross the clearence limit and utilised it. Weather we are eligible to claim cenvat on capital goods purchased in 07-08 even though we haven't cross clearence limit.

Posts / Replies

[Rama Krishana]

Provisions of Rule 11 of the Cenvat Credit Rules, 2004 read with SSI exemption notification no. 8/2003 CE dated 1.3.2003, you can avail the credit on capital goods but you can utilise the same untill the limit of Rs. 1.5 crores is reached.