100% Admissibility of Cenvat credit on Capital Goods
This query is : Resolved
08 April 2009
Request you to kindly clarify my doubt, whether 100% of Cenvat credit on Capital Goods can be availed in the subsequent year; in the case of no cenvat credit availed in the financial year, in which the goods were received.
Thanks in advance
Thanks in advance
19 April 2009
On grounds of principle you can avail 100%. But advisable to utilize only 50%, reason department is bound to object and this will be available to you only after a judicial debate.
If during the audit the authorities do not object your proposal, then you can utilize the balance amount as well.
If during the audit the authorities do not object your proposal, then you can utilize the balance amount as well.
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21 April 2009
Thank you so much Mr. Dayal.
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