https://www.taxtmi.com/article/detailed?id=406 The document argues that for removals of used capital goods during 1.3.2003-12.11.2007, reversal of Cenvat credit should be quantified on a pro rata/depreciated basis (for example by applying the 2.5% per quarter abatement or accepted depreciation/transaction-value methods) rather than by demanding the full originally availed credit, relying on the Modvat/Cenvat scheme's non cascading purpose, transitional preservation of earlier rights, circular guidance, and tribunal precedents accepting depreciated valuations. en-us Wed, 01 Jul 2009 00:00:00 +0530 Thu, 10 Dec 2009 19:10:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=406 The document argues that for removals of used capital goods during 1.3.2003-12.11.2007, reversal of Cenvat credit should be quantified on a pro rata/depreciated basis (for example by applying the 2.5% per quarter abatement or accepted depreciation/transaction-value methods) rather than by demanding the full originally availed credit, relying on the Modvat/Cenvat scheme's non cascading purpose, transitional preservation of earlier rights, circular guidance, and tribunal precedents accepting depreciated valuations. Articles Cenvat Credit Wed, 01 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=406