https://www.taxtmi.com/caselaws?id=244039 CENVAT credit on capital goods is restricted to 50% in the year of receipt, with the balance credit available in a subsequent financial year if the prescribed conditions are met. Taking the full credit in the year of procurement is contrary to the rule, but it does not justify denial or reversal of the balance credit where that credit is otherwise admissible later. Premature availment of the balance credit may attract interest for the period of early use and a penalty for the procedural lapse, but not reversal of the entire credit. en-us Mon, 11 Nov 2013 00:00:00 +0530 Wed, 03 Sep 2014 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244039 CENVAT credit on capital goods is restricted to 50% in the year of receipt, with the balance credit available in a subsequent financial year if the prescribed conditions are met. Taking the full credit in the year of procurement is contrary to the rule, but it does not justify denial or reversal of the balance credit where that credit is otherwise admissible later. Premature availment of the balance credit may attract interest for the period of early use and a penalty for the procedural lapse, but not reversal of the entire credit. Case-Laws Central Excise Mon, 11 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244039