19 December 2009
The CENVAT Credit Rules,2004 defines only two types of dealer i.e. first stage dealer and second stage dealer. The first stage is defied who purchases either directly from the manufacturer or from his depot/consignment agent. The second stage dealer has been defined who purchase from first stage dealer. So the manufacturer is entitled to take credit on the invoices inter alia others, issued either by first stage dealer or second stage dealer. In such circumstances it may be construed that credit admissibility is restricted on purchase from I/II stage dealer.
20 December 2009
sir but my question is whether i can take the credit of cenvet from the 2nd stage dealer. i have registered as 2nd stage dealer in excise.
CAclubindia
