30 November 2009
We are pvt ltd company started in FY 2008-09. We have been collected input duty on Capital goods in FY 2008-09. We cross the limit of (SSI 150 Lacs)excise in the month of september-2009. Now we have to submit Excise return and details of input & output duty. I want to know about cenvat credit of previous years input duty on capital goods. can we take Cenvat credit of whole part of capital goods or we should take 50% of capital goods input (We have not taken cenvat credit in previous year 2008-09)?
30 November 2009
You are eligible input/capitalgoods cenvat credit exciseable stock lying as on september 2009.You should take 50% of capital goods input.
CAclubindia
