29 June 2016
Ours is a newly established SSI unit,
We have procured Plant and Machinery under Capital Goods ,
Iam told the CENVAT credit can availed upto only 50% in the current financial year and rest in subsequent year , which also to be reflected in the ER1 return.
But our consultant says SSI units can avail 100% credit in the first year only . .( 6/2010 dt.27-02-2010 second / third proviso to Rule 4(2)(a) as inserted w.e.f 1-4-2010 )
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