Input credit by 100% eou

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 August 2012 our company is an 100% EOU, we are purchasing many items which are covered by excise rules, Can we take the credit of the excise amounts paid on the materials purchased for manufacture as well as Capital goods used in the process of manufacture.

Kishor Darole

Kishor Darole (Expert)
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08 August 2012 Hi,

Being an 100% EOU Unit, Though you have procured material on payment of duty, you can very well avail Cenvat credit Input & Capital Goods (50%). If you procured under C form, You can claim Refund of the same also.

Regards
Kishor Darole