17 April 2011
On the strength of the invoice received along with the inputs in to the factory premises, if one avail the Cenvat Credit and the same can be used/utilised for payment of duty involved on clearance of finished goods. After availment only one can utilise for payment of duty.
20 April 2011
'Availing' is taking credit in cenvat register, if the register is maintained manually. 'Booking' is passing accounting entries. These both are same if the auto accounting entry is passed while taking credit in comupterized system. 'Utilizing' is adjusting this credit while making duty payment.
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