Availment of CENVAT credit on Capital Goods

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

AI Summary

CENVAT credit on capital goods: full immediate input credit allowed for units meeting small enterprise eligibility criteria.
The Budget 2010-11 amendment, implemented by notification, allows full CENVAT credit on capital goods in the year of purchase for units meeting the SSI eligibility turnover test; the concession applies to units within the central excise manufacturing net regardless of formal SSI registration and excludes service providers.