18 May 2016
HELLO Can anybody tell me what is the provisions relating to Cenvat credit in respect of plant & machinery or any other capital goods in case of fresh unit not registered in excise act or as registered as SSI unit ? suppose xyz pvt ltd. incorporated on 1.4.16 and imported machinery from china on 1.6.16 on which custom duty @4% charged of Rs. 100000 u/s 75 of custom tariff act . whether he can take cenvat of the said duty in books after getting registration in excise department. irrespective of turnover and whether he is eligible to utilise the same in next f.y. 17-18 or in future years when his production crosses 1.50 crore. plz suggest what to do?
CAclubindia
