CENVAT Credit reversal required when inputs or capital goods are written off; credit may be reclaimed if later used in manufacture. The amendment inserts a provision requiring a manufacturer to pay an amount equivalent to CENVAT credit taken where an input or capital good is fully written off or a full write-off provision is made; if that input or capital good is later used in manufacture of final products, the manufacturer may re avail the equivalent credit subject to the other provisions of the CENVAT Credit Rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
CENVAT Credit reversal required when inputs or capital goods are written off; credit may be reclaimed if later used in manufacture.
The amendment inserts a provision requiring a manufacturer to pay an amount equivalent to CENVAT credit taken where an input or capital good is fully written off or a full write-off provision is made; if that input or capital good is later used in manufacture of final products, the manufacturer may re avail the equivalent credit subject to the other provisions of the CENVAT Credit Rules.
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