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CENVAT CREDIT???

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(Querist)
14 April 2010 IN CASE OF EXCISABLE CAPITAL GOODS, CENVAT CREDIT FOR CAPITAL GOODS IS TO BE TAKEN NOT EXCEEDING 50% AS PER THE PROVISIONS OF THE ACT. WHETHER IT CAN BE TAKEN BELOW 50% eg. 30% AND THE BALANCE 70% IN THE NEXT SUBSEQUENT YEAR????
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CA Shiv

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CA Shiv (Expert)
14 April 2010 Yes.... you can do that....

you can claim that easily.. restriction is 50% for the first year.

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