CENVAT credit for moulds and dies: balance credit may be claimed later even if goods are no longer in possession. The amendment to Rule 4(2)(b) of the CENVAT Credit Rules, 2002 permits manufacturers to claim the deferred balance of credit on moulds and dies in a subsequent financial year even if those goods are no longer in their possession or use in that subsequent year, provided the goods were used for manufacture of final products in that later year.
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 for moulds and dies: balance credit may be claimed later even if goods are no longer in possession.
The amendment to Rule 4(2)(b) of the CENVAT Credit Rules, 2002 permits manufacturers to claim the deferred balance of credit on moulds and dies in a subsequent financial year even if those goods are no longer in their possession or use in that subsequent year, provided the goods were used for manufacture of final products in that later year.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
