08 January 2011
Dear Sir/Madam My questions are: 01.Is power used for captive consumption liable to excise duty? 02.Can we avail cenvat credit if 80% power used for captive consumption and 20% sold to outside party? 03.What are required documents to be maintained for the above two purposes?
07 July 2011
No excise duty applicable on electricity generated & used for captive consumption Cenvat credit to the extent 80% available & balance 20% to be reversed if already availed. Records on inputs, capital goods & input services for power generation, cenvat credit availed,power units generated, units consumed capitively & units sold to outside party to be maintained. Cenvat credit to be availed only on inputs, capital goods & input services used in captive consumption.
CAclubindia
