https://www.taxtmi.com/article/detailed?id=477 Cenvat credit on capital goods comprises an initial entitlement on receipt and a deferred balance subject to conditions. Under earlier rules the deferred balance could be taken only when capital goods were both in the possession and in the use (effectively installed) of the manufacturer or service provider in a subsequent financial year; later rule text required possession alone. Administrative circulars and tribunal decisions have diverged in interpreting whether goods held for installation satisfy the deferred-credit condition, and specified exclusions and clearance-as-capital-goods provisions affect full or partial credit treatment. en-us Fri, 04 Sep 2009 00:00:00 +0530 Tue, 04 Jan 2011 11:57:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=477 Cenvat credit on capital goods comprises an initial entitlement on receipt and a deferred balance subject to conditions. Under earlier rules the deferred balance could be taken only when capital goods were both in the possession and in the use (effectively installed) of the manufacturer or service provider in a subsequent financial year; later rule text required possession alone. Administrative circulars and tribunal decisions have diverged in interpreting whether goods held for installation satisfy the deferred-credit condition, and specified exclusions and clearance-as-capital-goods provisions affect full or partial credit treatment. Articles Cenvat Credit Fri, 04 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=477