15 May 2013
Kindly let me know whether Cenvat Credit of capital goods installed which is not put to use can be taken or not against excise duty payable at present.
This capital goods are purchased for different process in addition to existing manufacturing goods and still not put to use.
i.e. whether Cenvat on these capital goods which are not put to use can be taken against excise duty payable on existing manufacturing facilities.
15 May 2013
In the 1st year the condition is only receipt for the subsequent years usage is necessary. Therefore in 1st year 50% of the duty credit canbe availed and utilised.
CAclubindia
