13 December 2010
If capital goods after partial used removed from factory. Amount equal to Cenvat credit taken at the time of entry shall be paid. My question is- whether cenvat credit avialed is utilised for payment of duty.
15 December 2010
yes, you have to reduce the cenvat credit taken on the capital goods @ 2.5% per quarter of the usage. for further clarification kindly go through the Rule 3(5B) of the Cenvat Credit Rule,2004 as amended.
CAclubindia
