Cenvat credit on capital goods purchased by ssi
This query is : Resolved
05 February 2016
Plz some one clear my doubt. An ssi (preceding P.Y. Clearance is less than 400 L) unit availed 100% cenvat credit on capital goods purchased during the current F.Y.in which its clearance doesn't exceed the limit of 1.5 cr. If so then is the unit is eligible to utilize the credit availed in next year, if its clearance exceeds 150 L limit?
05 February 2016
When the unit becomes liable to pay excise duty, it can utilize the CENVAT credit availed on capital goods to pay the excise duty.
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