Cenvat on previous bill

GOOD AFTERNOON EXPERTS,

OUR COMPANY SITUATED IN UTTARAKHAND. WE WERE FREE FROM EXCISE TILL 6 JULY 2013. BUT SIR NOW WE ARE EXCISABLE UNIT, THEN SIR MY QYERY IS THAT CAN WE TAKE CENVAT CREDIT OF THOSE PURCHASE WHICH WE PURCHASE FROM THIS F.Y 2013-2014.

2-ANY CONDITION ABOUT THIS

THANKS

Replies (5)

Dear Sir,

 

You can utilise the cenvat only & if that bills material is utilized for closing stock after the date you entered into excise.

can u pls tell me why you are free from excise..whether availing any exemption....?

in uttarakhand, government give exemption of excise for 10 years . which fectory situated in utarakhand.

Hi,

CENVAT Credit is available only when the input material is used for manufacturing final product on which duty is payable/Paid.  So in your case, as duty is not paid on the finished (Sales Invoice) goods you cannot availe cenvat credit.

 

Thanks,

Ravindra

 

as you have mentioned that from 6th july 2013 you are entitled to pay duty, this is a cut off date for your unit, and if u opt to pay duty from zero level after this date, then you are eligible to take cenvat credit on inputs procured after this date.  

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