Excise credit
This query is : Resolved
18 March 2011
Dear Sir,
Pls suggested me
I am working a manufacturing company a company sales turnover Rs.2.5crore above bu some problem our company cross limited Rs.1.5crores in jan month but our company Reg.in excise 25.2.2011 in this period our company purchase & Import Excisable goods Rs.1.5crores pls adivse me our company can get cenvat credit
regards
Praveen
Pls suggested me
I am working a manufacturing company a company sales turnover Rs.2.5crore above bu some problem our company cross limited Rs.1.5crores in jan month but our company Reg.in excise 25.2.2011 in this period our company purchase & Import Excisable goods Rs.1.5crores pls adivse me our company can get cenvat credit
regards
Praveen
22 March 2011
Your query is not clear.
As much as I can understand you are availing SSI Exemption. For taking the Cenvat credit you can avail credit on the input goods on which you have paid the excise duty. For the utilising purpose you can only utilise the credit on the clearances made after Rs.150 Lacs.
As much as I can understand you are availing SSI Exemption. For taking the Cenvat credit you can avail credit on the input goods on which you have paid the excise duty. For the utilising purpose you can only utilise the credit on the clearances made after Rs.150 Lacs.
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