Hi,
I have a query
whether the SSI unit has to revrse the entire Cenvat Credit i.e. even the credit on capital goods & IPS on 1st April of the year in which it opts for the SSI exemption in the excise.
Expecting an early reply
Jay Bodha (Employed) (139 Points)
29 January 2013Hi,
I have a query
whether the SSI unit has to revrse the entire Cenvat Credit i.e. even the credit on capital goods & IPS on 1st April of the year in which it opts for the SSI exemption in the excise.
Expecting an early reply
CA ANKUSH AGGARWAL
(CHARTERED ACCOUNTANT)
(2782 Points)
Replied 30 January 2013
nopes.....Credit availed on SSI unit shall not be reversed since SSI unit is liable to pay duty after exempted limit of Rs 150 Lacs is over and therefore will utilise such credit at that time.
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