TaxTMI 
TaxTMI 
cenvat credit
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....envat credit<br> Query (Issue) Started By: - ANIL KUMAR Dated:- 7-11-2014 Last Reply Date:- 13-11-2014 Central Excise<br>Got 2 Replies<br>Central Excise<br>My factory is situated in Himachal Pradesh u....
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....nder exemption of cental excise duty.Presently exemption period is expired on 30.09.14. onwards from 01.10.14 excise duty is levied on goods manufacturedand cleared.As on 01.10.14 stock lying with us ....
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....( R.Mand F.G)MAY BE TAKE CREDIT ON BOTH R.Mand F.G LYING WITH US.WE HAVE ALREADY INTIMATED EXCISE DEPT. REGARDIG THIS.PLEASE CLEARIFY Reply By Naveed S: The Reply: Cenvat credit on raw materials, wor....
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....k in process and finished goods may be availed, subject to prior intimation to the department. It is advisable to get a certificate from a Cost accountant regarding the input utilized therein as well....
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.... as the Value taken into consideration for purpose of calculation of excise duty credit thereon. You may contact your jurisdictional Range officer for necessary guidance in the matter. Reply By Raje....
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....sh Nathoo: The Reply: Dear Anil , As per Sub Rule 2 of Rule 3 of Cenvat Credit Rules,2004, u can take credit of inputs lying in stock or in WIP or in Finished Goods . You cannot take credit of all .....
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.... You work out work out whichever was highest on 1.10.2014 and take the credit of same .<br> Discussion Forum - Knowledge Sharing ....