TaxTMI 
TaxTMI 
As per Rules CENVAT credit Cenvat Credit on Capital Goods can claim 50% in current year and next 50% in next year, Now Suppose i have received a bill on 30th March 07, can i claim balance 50% on next month (i.e 1st April 07) or the balance will be available on next year 30th March 08.(i.e exactly after 1 year of Bills Received)
Clarification of credit on capital goods
24 Feb 2007 
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Cenvat credit on capital goods may be split across financial years, with remaining credit claimable after year-end upon receipt.
Cenvat credit on capital goods may be split across financial years, allowing a portion of credit to be taken in the year when the invoice is received and the balance in the next financial year. This split is permitted where an invoice falls at year-end; the assessee may claim part immediately and the remainder after year-end, provided the capital goods are received at the assessee's premises for use in manufacturing excisable goods and the physical receipt requirement is met prior to availing the credit. (AI Summary)
Cenvat credit on capital goods may be split across financial years, allowing a portion of credit to be taken in the year when the invoice is received and the balance in the next financial year. This split is permitted where an invoice falls at year-end; the assessee may claim part immediately and the remainder after year-end, provided the capital goods are received at the assessee's premises for use in manufacturing excisable goods and the physical receipt requirement is met prior to availing the credit. (AI Summary)