Cenvat credit on Capital Goods

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....envat credit on Capital Goods<br> Query (Issue) Started By: - shaji thomas Dated:- 22-12-2010 Last Reply Date:- 14-2-2011 Central Excise<br>Got 1 Reply<br>Central Excise<br>A Company had availed 50% C....

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....envat Credit on Capital Goods on the first year of procurement when the unit was availing exemption under Notn.8/2003 and has not paid duty during the entire period(period refered is 2006-07). Is it a....

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....llowed to avail the 50% credit in the first year ie. under exemption or 100 % credit in subsequent years ? Reply By Seetharaman K C: The Reply: There is a distinct difference between availament of ....

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....CENVAT credit and utilisation of the same. In this case the unit can avail the credit on capital goods in the first year upto the extent of 50% and utilise the credit for payment of duty when the unit....

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.... crosses the turnover limit specified after which the goods become excisable. The balance 50% can be availed in any of the subsequent financial years<br> Discussion Forum - Knowledge Sharing ....