Cenvat Credit

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..... We are manufacturing a commodity which is excisable. As as an expansion to our existing unit and new products, we have purchased capital goods on which excise duty has been paid. Commercial producti .....

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..... on will start after 3 years. Whether we are eligible to avail 50% of Cenvat Credit for the capital goods received during the year of purchase/receipt, although capital goods will be used after 3 yea .....

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..... rs? - Reply By Brijesh Verma - The Reply = Dear Rachit Ji The availability of CENVAT Credit is basically bound by rule 4 of CCR'04. The conditions relevant for capital goods are contained in Ru .....

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..... le 4(2) thereof. The condition for availing credit in respect of Capital Goods is merely ' receipt based ' and not ' user-based '. Therefore, you can take 50% in first year notwithstanding year of a .....

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..... ctual ' put-to-use ' of the machinery. - Cenvat Credit - Query Started By: - CA Rachit Agarwal Dated:- 3-12-2010 Central Excise - Got 1 Reply - Central Excise - Discussion Forum - Knowledge Sha .....

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..... ring, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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