07 July 2011
wef 1st Apl'10, SSI units entitled to avail 100% Cenvat Credit on Capital goods in year of receipt. Capital goods on which no cenvat credit availed in ist year due to indvertence, 100% cenvat credit credit can be availed in subsequent yr.
If availment is covered under any of two instances stated above, no reversal / interest / penalty applicable. In any other case, 50% reversal of excess credit availment, interest & penalty applicable
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