TaxTMI 
TaxTMI 
Availment and utilisation of excise
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....vailment and utilisation of excise<br> Query (Issue) Started By: - madhavvan Dated:- 2-5-2009 Last Reply Date:- 4-5-2009 Central Excise<br>Got 1 Reply<br>Central Excise<br>SSI unit has turnover exceeding rs. 90 lacs it files quarterly returns for FY 08-09 it has imported and purchased locally capital goods and accordingly has posted same in cenvat register can it utilise this credit in FY 09-10 in....
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.... case the turnover crosses limit of Rs. 150 lacs and it starts charging excise duty can it utilise 100% credit in FY 09-10 of capital goods it has purchased inputs and input services in FY 08-09 can it avail this in FY 08-09 and then utilise it in FY 09-10 is there any provision where if ssi unit exports please clarify whether credit is to be availed first and then utilised availment means posting....
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.... in cenvat register and utilisation is actual credit being utilised for payment of duty is this correct Reply By Rama Krishana: The Reply: If you refer to condition no. (iv) of para 2 of SSI notifiction no. 8/2008, which read as, " (iv) the manufacturer also does not utilise the credit of duty on capital goods under rule 3 or rule 11 of the said rules, paid on capital goods, for payment of duty, ....
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....if any, on the aforesaid clearances, the aggregate value of first clearances of which does not exceed one hundred and fifty lakh rupees, as calculated in the manner specified in the said Table;" Means thereby that, he is allowed to take the cenvat credit but not allowed to utilize the same till the ssi exemption is over. Based on this, I believe you can avail 100% credit in FY 09-10 and utilize th....
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....e same.<br> Discussion Forum - Knowledge Sharing ....