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availment of cenvat credit

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This query is : Resolved

vivek vishal agarwal (Querist)

27 November 2009 if excise duty has not been paid within the time limit and further 30 days has been passed without payment of excise duty.i want to know that whether cenvat credit can be utilised for payment of excise duty on other excisable goods before payment of the above duty.if i cant avail cc then whether it is applicable for different excisable product relasing from same factory?

CA.Hanumantha Reddy

CA.Hanumantha Reddy (Expert)

27 November 2009 Yes, you can claim. But interest has to be caluclated on the amount which would have been paid for the respective month and paid to the Govt. Ex. as on june the liability was Rs 20,000 and CC was about Rs. 17000 and further July the liability was Rs 20000 and the CC was 22000. Then the interest on Rs 3000 has to be caluclated. Therefore the final payment would be Rs 1000 plus interest portion is to be remitted.

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