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.
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.
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