https://www.taxtmi.com/article/detailed?id=5182 Rules define capital goods and set entitlement, timing and limits for taking CENVAT credit on capital goods received after the notified date, permitting utilisation for specified duties and service tax while restricting use where exemptions apply. They prescribe reversal mechanics when capital goods are removed, written off or disposed-using prescribed straight-line reduction rates or payment equal to credit-allow re-credit on subsequent use, and treat recovery, confiscation and penalties for wrongly availed credit with documentary and record-keeping obligations on the claimant. en-us Sat, 06 Jul 2013 08:52:36 +0530 Sat, 06 Jul 2013 08:52:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5182 Rules define capital goods and set entitlement, timing and limits for taking CENVAT credit on capital goods received after the notified date, permitting utilisation for specified duties and service tax while restricting use where exemptions apply. They prescribe reversal mechanics when capital goods are removed, written off or disposed-using prescribed straight-line reduction rates or payment equal to credit-allow re-credit on subsequent use, and treat recovery, confiscation and penalties for wrongly availed credit with documentary and record-keeping obligations on the claimant. Articles Service Tax Sat, 06 Jul 2013 08:52:36 +0530 https://www.taxtmi.com/article/detailed?id=5182