Availament of cenvat credit on common inputs
This query is : Open
18 August 2014
If we have common inputs which would be used in dutiable and exempted goods, and the proportion of usage of inputs in dutiable goods is 75-80%, but separate storage location & books could not be maintained for exempted goods, can we avail cenvat credit pertaining to usage in dutiable goods (we only know what is the quantity issued to exempted goods with out any batch wise control).
Also would like to know whether maintaining track in ERP system for receipt and issues mean separate records?
Also would like to know whether maintaining track in ERP system for receipt and issues mean separate records?
18 August 2014
Even if record are not separate then also you can avail the cenvat credit of input and input services used in the taxable goods.
20 August 2014
Can u pls mention the relevant rule of Cenvat credit rules...
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