TMI BlogBusinesses Must Reverse CENVAT Credit or Pay Duty on Capital Goods When Cleared; Depreciation at 2.5% Per Quarter Applies.Reversal of credit - capital goods cleared as such - there cannot be any doubt that the appellant is required to reverse CENVAT Credit/discharge duty on the capital goods after allowing depreciation on the value @ 2.5% per quarter of its use. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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