I had purchased a Capital Assets but didnt taken the cenvat credit due to the mistake but depreciation taken 100%. Now after 2 years the auditor pointed out the leakage. Now Whether cenvat credit can be taken after reversing the depreciation on the said cenvat value in current financial year. Also Whether 100% credit can be taken or 50% in this year and 50% in next year. Please reply or suggest me.
CAclubindia
