CENVAT Credit on stock

[mk Jain]

Dear Sir,

If any unregistered dealer ( trader) want to take excise registration as on today ( Current scenario).

Is he eligible to take the CENVAT credit on stock lying with him.

Rgds

MJ

AI Summary

Unregistered Dealer Seeks CENVAT Credit on Stock; Experts Stress Need for Compliance with Documentation and Registration Dates. An unregistered dealer inquired about eligibility to claim CENVAT credit on stock upon obtaining excise registration. Respondents generally agreed that the dealer could claim credit if there is documentary evidence of duty paid on the stock. However, one respondent highlighted that credit cannot be claimed on invoices dated before registration, as this practice is not litigation-free for dealers, only for manufacturers. They noted that while such credit was allowed in the past under specific circumstances, it is not typically permissible. Another respondent expressed strong agreement with this viewpoint, emphasizing the importance of compliance with regulations.