Cenvat credit on capital goods for ssi unit

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Manohar (Querist)
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29 June 2016 Ours is a newly established SSI unit,

We have procured Plant and Machinery under Capital Goods ,

Iam told the CENVAT credit can availed upto only 50% in the current financial year and rest in subsequent year , which also to be reflected in the ER1 return.

But our consultant says SSI units can avail 100% credit in the first year only .
.( 6/2010 dt.27-02-2010 second / third proviso to Rule 4(2)(a) as inserted w.e.f 1-4-2010 )

Iam not sure pl guide me with GO copy

Thanks & Regards !
VR Manohar
9866577671

Rupesh Jain

Rupesh Jain (Expert)
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29 June 2016 yes, you can get 100% cenvat on capital goods in first year, if you want to take 50-50% then you can take.

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Manohar

Manohar (Querist)
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30 June 2016 But our Range superintendent is citing Rule 4(2) of CENVAT Credit Rules 2004 , and asking us to reverse back the credit taken.

Pl guide with the relevant amended rules .

Thanks !
VR Manohar

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