https://www.taxtmi.com/forum/issue?id=348 The clarification addresses timing and conditions for claiming cenvat credit on capital goods: a portion of credit may be claimed in the year of acquisition and the balance in subsequent years, but entitlement to the remaining balance is contingent on possessing the capital goods when availing that credit. Limited exceptions to the possession requirement, such as consumables, were noted, and there is reported uncertainty about whether an explicit time limit exists for taking the balance credit. en-us Thu, 01 Mar 2007 09:10:47 +0530 Thu, 23 Jan 2025 15:58:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=348 The clarification addresses timing and conditions for claiming cenvat credit on capital goods: a portion of credit may be claimed in the year of acquisition and the balance in subsequent years, but entitlement to the remaining balance is contingent on possessing the capital goods when availing that credit. Limited exceptions to the possession requirement, such as consumables, were noted, and there is reported uncertainty about whether an explicit time limit exists for taking the balance credit. Discussion-Forum Service Tax Thu, 01 Mar 2007 09:10:47 +0530 https://www.taxtmi.com/forum/issue?id=348