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Balance in rg23c part ii

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Anil (Querist)

14 March 2013 Sir, we are registerd with excise since last year. we have cross our 1.50 crore limit in Dec'12. Now we are charging Excise in our Invoices. Sir, we have purchase a machine from china in Feb'13. We had taken cenvat 50% on Machine.

Sir, There will be a balance in our RG 23C Part II for Rs. 2 Lac Apx. Sir, Can this amount we claim from Excise Deptt. or can we use this amount to next year after 1.50 Crore Limit.

CS ,CMA Shambhu Kr. jha

CS ,CMA Shambhu Kr. jha (Expert)

16 March 2013 Dear Anil
As per the CENVAT Credit Rule 2004 , CENVAT credit on capital goods are only allowed when it is used for producing the dutiable goods . And that too 50% Can be utilised in current year and rest 50 % need to carry forward to the next year . In your case you are producing both dutiable as well exempted goods . So as per my knowledge you can avail credit on prorata basis of dutiable and exempted goods .

Thanks

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