SSI and cenvat credit

[Asked by Guest]

Dear All ,

 

We have a manufacturing unit which expects to cross threshold limit of 150 lacs in coming F.Y

Can we set-off the duty arsing after 150 lacs with the input  purchase ,where we borne the excise duty???

kindly let us know if any departmental clarification or circular in this regard

 

Thanks & regards

Parth kapoor   

AI Summary

SSI exemption threshold crossing permits cenvat credit for inputs received thereafter and for stock, WIP and finished goods inputs.
Once the SSI exemption threshold is exceeded and duty payment begins, cenvat credit is available for inputs received in the factory after the moment of crossing and for inputs lying in stock, inputs contained in unsold finished goods, and inputs contained in work in progress as at that date and time. Additionally, the assessee may claim one hundred percent of duty paid on capital goods in the same financial year when the threshold is crossed. A clear cut off time on the day of crossing is recommended for administrative clarity.