Our company has build a new factory building. We have transferred our old machineries which we are currently using for manufacturing after reversal of cenvat credit that we have taken as reduced by the percentage as per the provision. We have transferred the machineries by preparing the invoice & the cenvat reversed have been shown in the invoice.
Now I want to know whether, the said amount of excise which we have reversed can be availed fully in the first year or we should avail the credit as per the cenvat provision? i.e 50% in the year of receipt & balance in the next year.
CAclubindia
