Availment of CENVAT credit on Capital Goods

[Guest]

Is the said statment is right Full CENVAT credit on Capital Goods in 1st Year itself - Budget 2010-11

AI Summary

Clarification on full CENVAT credit for capital goods under Budget 2010-11, including eligibility beyond SSI units per Notification 06/2010 NT. A discussion on a forum addressed the issue of availing full CENVAT credit on capital goods in the first year, specifically under the Budget 2010-11. The consensus among participants was that full CENVAT credit is available to Small Scale Industry (SSI) units, as supported by Notification No. 06/2010 NT effective from April 1, 2010. However, one participant clarified that this benefit is not limited to SSI units but extends to any unit eligible to become an SSI unit, provided their local sales in India were less than Rs. four crore during the 2009-10 fiscal year.