SSI Notification 8/2003

This query is : Resolved

Guest

Guest (Querist)

04 February 2009 Hello everyone
In the notification 8/2003 it is written in respect of inputs used in relation to first clearances upto 150 lakhs cenvat credit cannot be availed.but someone told me that there was an ammendment under which cenvat credit is not available to SSI even after the clearances of 150 lakhs.Can someone please tell what the exact present situation is?

nilesh kshirsagar

nilesh kshirsagar (Expert)
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05 February 2009 ssi unit can accumulate the credit up to 1.5 cr on input & capital goods. after crossing 1.5 cr. he can availed 50% credit on capital goods &transitional crdit on the physical qty . of input as per cenvat credit rule.

Regards
Pradnya k-sagar
K-sagar Management Counsultant