Assessee Can Claim 50% Cenvat Credit on Capital Goods in First Year, Balance in Next; 100% Claim Not Allowed.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Though the assessee is entitled to cenvat credit of 50% on the capital goods in the year of receipt/ balance 50% is available to them in subsequent year. Availing credit @ 100% on some invoices and not availing any credit in respect of other invoices in the same year cannot be appreciated.....