TaxTMI 
TaxTMI 
cenvat credit
07 Nov 2014 
2 Replies 
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Cenvat credit entitlement for inputs, work in process or finished goods available after exemption, subject to prior intimation.
Cenvat credit may be claimed on inputs, work in process and finished goods held when an exemption ceases, provided there is prior intimation to the department and adequate substantiation of inputs consumed and the value taken for credit calculation; obtaining a cost accountant certificate and consulting the jurisdictional range officer are recommended for compliance. (AI Summary)
Cenvat credit may be claimed on inputs, work in process and finished goods held when an exemption ceases, provided there is prior intimation to the department and adequate substantiation of inputs consumed and the value taken for credit calculation; obtaining a cost accountant certificate and consulting the jurisdictional range officer are recommended for compliance. (AI Summary)
My factory is situated in Himachal Pradesh under exemption of cental excise duty.Presently exemption period is expired on 30.09.14. onwards from 01.10.14 excise duty is levied on goods manufacturedand cleared.As on 01.10.14 stock lying with us ( R.Mand F.G)MAY BE TAKE CREDIT ON BOTH R.Mand F.G LYING WITH US.WE HAVE ALREADY INTIMATED EXCISE DEPT. REGARDIG THIS.PLEASE CLEARIFY