01 August 2014
We are producing goods & paying Excise Duty. For expansion of business new plant & machinery was purchased which is not put to use till date. Can we utilize 50% cenvat credit paid on the same for setting off our current liability in the year of purchase or we have to wait till the date of use of machinery?
01 August 2014
If premises are same then after received the capital goods in the factory you can take the cenvat credit on 50% and utilise the same for other goods manufacturing.
CAclubindia
