Hi All,
Do I need to reverse the cenvat credit taken on capital goods when my product becomes non excisable ?. Please give me the relevant rules on this.
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When product becomes non excisable
Replies (1)
Yes you have to reverse as per CETA. Please refer to Rule 6 of Cenvat Credit Rules for more information. Rule 2 (d) says non excisable goods also as exempted.
thanks
Suri
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