20 December 2013
Dear Sir, Suppose a manufacturing unit started today. When it will get the facility to take CENVAT credit ? After how many years of business or After crossing of what limit of turnover ? Respective rules pls.
For the purpose of availment of cenvat credit, it is mandatory to get yourself registered with the department. Thereafter, you can start availing cenvat credit of inputs/capital goods/input services and all the clearances of the goods manufactured out of it should be on payment of duty.
If you intend to avail the benefit of small scale units and want to enjoy the exemption, then you can avail the cenvat credit only after crossing the exemption limit of Rs.1.5 Crores
CAclubindia
