08 April 2014
The unit is an SSI and it has not crossed limit of Rs. 150 Lakhs.
Hence, as per N/N - 8/2003 -
1. Capital Goods - 100% Cenvat credit available in 1st year.
2. Inputs - No Cenvat
credit upto Rs.150 Lakhs.
My question is what about Cenvat credit of Input Services of Services received before crossing Rs. 150 Lakhs limit.
Do read N/N 8/2003 SSI and do provide me any legal support.
14 April 2014
In respect of unit availling SSI Exemption ,Cenvet Credit on capital goods and input,and Input service can be availed but utilized only after clearances of Rs 150.Further entire credit of capital goods can be taken in the same financial year by such unites
CAclubindia
