Availment of cenvat credit of capital goods

[Asked by Guest]

Dear Sir,

In Excise notification 21/2014 ce(nt) it is mentioned that time limit for availment of cenvat credit of 6 months is applicable to input (Rule 4(1)) and inputs services (Rule 4(7)) of cenvat credit rules 2004 only, So whether the time limit of 6 months is applicable to capital goods also,please expalin , thanks and regards

AI Summary

Cenvat credit time limit applies to inputs and input services; capital goods credit governed by receipt and staged availing.
The notification added a six month proviso limiting Cenvat credit for inputs and input services but did not amend the rule on capital goods; accordingly capital goods credit is governed by the specific capital goods conditions-receipt in the factory and staged availing across the year of receipt and a subsequent year-though some argue the time limit should still apply and practitioners are advised to claim promptly to avoid disputes.