Availment of CENVAT Credit on Capital Goods

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....vailment of CENVAT Credit on Capital Goods<br> Query (Issue) Started By: - CHITRA RAGURAM Dated:- 1-12-2010 Last Reply Date:- 2-12-2010 Customs - Exim - SEZ<br>Got 1 Reply<br>Customs<br>A Company fail....

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....ed to avail 50% Cenvat Credit on Capital Goods on the first year of procurement. Is it possible to avail the entire 100% in the subsequent years ? Reply By Mangesh Lokre: The Reply: Cenvat Credit Ru....

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....le 4 (2) (a) to be read as.......... "The CENVAT credit in respect of capital goods received in a factory or in the premises of the provider of output service at any point of time in a given financi....

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....al year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year:" It is clear that you have take the 50% credit in the year o....

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....f purchase and receipt of CG in factory. and remaining 50% in the next financial year. If you have not availed the 50% credit in year of purchase, then you may take 100% credit in next year, provided....

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.... that you have to intimate the department.<br> Discussion Forum - Knowledge Sharing ....