kumar hattanna (Officer - Excise) (525 Points)
12 August 2013
Somaas Kandan
(CA Final)
(385 Points)
Replied 13 August 2013
Mr. Kumar
I presume it is Rule 3(5B) of Cenvat Credit Rules,2004
And accordingly a manufacturer or service provider to pay an amount equivalent to the CENVAT credit taken in respect of inputs or capital goods even where the value of such inputs or CG is written off partially ( earlier it is fully written off) before being put to use.
If at later stage, the said input or CG used in the manufacture of final products, then assessee shall be entitled to take credit of the amount equivalent to the CENVAT credit paid earlier.
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