About taking credit in the duration of exemption period
This query is : Resolved
06 January 2013
Respected Sir,
One of my clients is taking the benefit of noti.no.08/2003 of the exemption limit of turnover of 1.5 crore now question arises that can he take the credit of raw materials purchased during the exemption period or he has to take the credit of the purchase after exemption period please let me know & if there is any rule regarding that in the central excise please tell me rule no.
One of my clients is taking the benefit of noti.no.08/2003 of the exemption limit of turnover of 1.5 crore now question arises that can he take the credit of raw materials purchased during the exemption period or he has to take the credit of the purchase after exemption period please let me know & if there is any rule regarding that in the central excise please tell me rule no.
Arun Kumar Singh
(Expert)
06 January 2013
The SSI unit can avail cenvat credit in respect of inputs lying in stock, in WIP and in final products, when it starts availing cenvat credit. This has been specificaly provided in rule3(2) of cenvat credit rules.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- TDS- 2026-27 Q1 Correction
- Advances to related party
- Rent agreement of House of deceased person
- LLP audit and disclosure
- Capital Gains Tax on Inherited Mutual Fund
- GSTR9 Annual Return
- Applicability of tax on invoice
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
