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TMI BlogAvailment of CENVAT Credit on Capital GoodsX X X X Extracts X X X X X X X X Extracts X X X X ..... A Company failed to avail 50% Cenvat Credit on Capital Goods on the first year of procurement. Is it possible to avail the entire 100% in the subsequent years ? - Reply By Mangesh Lokre - The Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... = Cenvat Credit Rule 4 (2) (a) to be read as.......... "The CENVAT credit in respect of capital goods received in a factory or in the premises of the provider of output service at any point of ti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me in a given financial year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year:" It is clear that you have take the 50 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... % credit in the year of purchase and receipt of CG in factory. and remaining 50% in the next financial year. If you have not availed the 50% credit in year of purchase, then you may take 100% credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in next year, provided that you have to intimate the department. - Availment of CENVAT Credit on Capital Goods - Query Started By: - CHITRA RAGURAM Dated:- 1-12-2010 Customs - Import - Export - Cus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... toms - SEZ - Got 1 Reply - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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