CENVAT credit restriction limits credit where depreciation is claimed and confines input credit use to exempted product clearances. Credit of specified duty on capital goods is disallowed to the extent the manufacturer claims depreciation under the Income tax Act; credit of specified duty on inputs used in manufacture of final products cleared after availing exemption notifications shall be utilised only for payment of duty on final products cleared after availing the same exemption notifications.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
CENVAT credit restriction limits credit where depreciation is claimed and confines input credit use to exempted product clearances.
Credit of specified duty on capital goods is disallowed to the extent the manufacturer claims depreciation under the Income tax Act; credit of specified duty on inputs used in manufacture of final products cleared after availing exemption notifications shall be utilised only for payment of duty on final products cleared after availing the same exemption notifications.
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