01 February 2010
Hiiiii Credit of Cenvat on rawMaterial Purchased can b availed at the time when goods are entered into the factory premises. But this doesnt means that we can not take the credit afterwards. Credit can b taken anytime after the goods entered in Factory even after in the next year... So as the case with the Capital Goods. Credit can be taken 50% in the same financial year but again there is no restriction that the 50% credit is to b availed in the yr of purchase. it can be taken anytime.....
CAclubindia
