Cenvat credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 October 2016 Sir,

I have a manufacturing unit and it's TO going to cross 150 laks now 130 laks. So, I have to register central excise now. 3 months back, I have purchased a machine costing 60 laks and paid duty also.

Here, can I get avail Cenvat credit on that machine (capital goods) after getting Excise registration number.

Kindly advice.

Arun Kumar Singh

Arun Kumar Singh (Expert)
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14 October 2016 After 1.5 cr turnover you need to registered under central excise and start paying excise duty. You can take the 100% cenvat credit on capital goods purchase by you after payment of excise duty. If any doubt consult with any professional or visit my profile to contact with me.

Querist : Anonymous

Querist : Anonymous (Querist)

14 October 2016 Thank you sir,

We purchased machine on August 2016. But we now applied for excise registration. Hence, hereafter can we take cenvat credit on previously purchased machine ( Aug 2016). Is it possible sir?