https://www.taxtmi.com/caselaws?id=1957 Rule 4(2) of the Cenvat Credit Rules, 2002 permits only up to 50% credit on capital goods in the first financial year, but it does not require an assessee to take that amount. The balance credit may be carried forward and taken in the subsequent financial year without any separate ceiling on the quantum of such balance. Where capital goods were not put to use in the first year and no credit was availed then, the entire unavailed amount remained available in the next year as balance credit. en-us Tue, 24 Apr 2007 00:00:00 +0530 Tue, 15 Apr 2008 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1957 Rule 4(2) of the Cenvat Credit Rules, 2002 permits only up to 50% credit on capital goods in the first financial year, but it does not require an assessee to take that amount. The balance credit may be carried forward and taken in the subsequent financial year without any separate ceiling on the quantum of such balance. Where capital goods were not put to use in the first year and no credit was availed then, the entire unavailed amount remained available in the next year as balance credit. Case-Laws Central Excise Tue, 24 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1957