dear all,
I have balance in RG23A PART II since 1995, can i utilize the same under "cenvat credit rules 2004" on manufacturing and removal of excisable goods?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 28 June 2011
if you have availed exemption under notification no 08/2003 anytime after 1995, that means lapse of duty on the time of exemption availment,
if you have not availed exemption and paid duty on clearances in previous all years, then surely u can utilize the duty balance.
Refer the past period ER-1 returns and check the balance of credit in the returns, you will get the clear picture of duty still available or not.
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