Treatment of cenvat credit of capital goods

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Treatment of cenvat credit of capital goods
Query (Issue) Started By: - Lokesh Tiwari Dated:- 3-2-2011 Last Reply Date:- 3-2-2011 Central Excise
Got 1 Reply
Central Excise
what is the tre .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... atment of cenvat credit availed on capital goods, if value of such goods has been written off by assessee after being put to use????? Reply By Mangesh Lokre: The Reply: You have to reverse the Cenv .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... at Credit. Please refer Rule 3(5)(b) of CCR 2004. .......................... (5B). If the value of any, (i) input, or (ii) capital goods before being put to use, on which CENVAT Credit has bee .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n taken is written off fully or where any provision to write off fully has been made in the books of account, then the manufacturer shall pay an amount equivalent to the CENVAT credit taken in respect .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of the said input or capital goods: Provided that if the said input or capital goods is subsequently used in the manufacture of final products, the manufacturer shall be entitled to take the credit .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of the amount equivalent to the CENVAT Credit paid earlier subject to the other provisions of these rules. ........................
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X