https://www.taxtmi.com/forum/issue?id=108873 A taxpayer who imported a capital machine and paid customs duty asks whether Cenvat credit can now be claimed. One opinion applies a one year proviso to the Bill of Entry and concludes credit is barred. The alternate opinion holds the one year proviso applies only to inputs and that capital goods are governed by the capital goods rule permitting phased credit (partial in year of receipt and balance later) provided the goods remain in the assessee's possession and documentary conditions are met. en-us Fri, 10 Jul 2015 17:31:23 +0530 Thu, 23 Jan 2025 15:56:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=108873 A taxpayer who imported a capital machine and paid customs duty asks whether Cenvat credit can now be claimed. One opinion applies a one year proviso to the Bill of Entry and concludes credit is barred. The alternate opinion holds the one year proviso applies only to inputs and that capital goods are governed by the capital goods rule permitting phased credit (partial in year of receipt and balance later) provided the goods remain in the assessee's possession and documentary conditions are met. Discussion-Forum Central Excise Fri, 10 Jul 2015 17:31:23 +0530 https://www.taxtmi.com/forum/issue?id=108873