Removal of capital goods - reversal of cenvat

[madhavvan n]

where service provider calims cenvat credit on capital goodsand thereafter sells them after period of 4 years is he required to reverse any cenavt credit how can service provider remove capital goods as per provisions of act since service provider cannot raise any invoice for capital goods

AI Summary

CENVAT credit reversal required on removal of capital goods, with statutory periodic reduction and invoice documentation expected.
Reversal of CENVAT credit is required when capital goods on which credit was taken are removed; the provider must remit an amount equal to the CENVAT credit claimed reduced by the prescribed periodic reduction measured from the date of taking the credit. An invoice documenting removal is required and an invoice used in providing services may suffice, though a commercial invoice may be needed where VAT implications arise.