Clarification of credit on capital goods , Service Tax

[vikas mittar]

as per cenvat credit rules it is very must clear that you can claim benefit of capital good credit 50% in same year so u are eligible for 50 % in same year & balance portion for next year. so next year at any time till the prossession of that particular asset.

Posts / Replies

[Surender Gupta]

Yes, if at the time of availing balance of cenvat credit, you do not possess captioned capital goods, you are not entitled to avail that balance credit. However, it has few exceptions like consumables.

[Atul Jain]

I think that there is no time limit specified for the purpose of taking cenvat Credit. So the same can be taken in any of further years.