we are doing payment of the Service Tax on the GTA Inward thru TR-6 challan…. And we also take credit of that much value in our CENVAT register.

I do want to know that whether we can utilize that amount in the other way of the payment i.t. BAS & others?

we are manufacturar exporter
we have choosen the self sealing option of export shipment as per the excise rules
and submitting the document to the excise departmen regularly

if we failed to submit it within 24 hrs within the working days

we failed approx 5 days
is there any panelty or fine on that

pls advice

thanks & rgds

IS IT POSSIBLE FOR A MANUFACTURER TO TAKE CENVAT CREDIT AGAINST FOLLOWING CASES ::

(1) When manufacturer purchased excise paid goods from traders against their commercial invoices (only local vat paid) ?

(2) When manufacturer purchased excise paid goods from any Co’s local branch office against their branch commercial invoices (only local vat paid) ?

IF NOT POSSIBLE , THEN HOW WE CAN GET CENVAT CREDIT FROM ABOVE CASES ?

CENVAT Credit shall be availed 50% during the first year and the balance to be in the subsequent year.

However, if an assessee avails the whole 100% in the first year itself, the dept. shall demand the assesse to pay the 50% Cenvat credit (wrongly) availed and avail the credit in the next year.

In this case, when the dept demand the assesse to pay the 50% Cenvat credit (wrongly) availed, the Assessee is having a surplus of cenvat credit which can set off the 50% capital goods cenvat credit.

Can the Assesse set off that ????

Thanks in advance,
Arul.

M/s XYZ Ltd Purchased a Capital goods on 01/05/2008 and sold the same Capital Goods On 20/01/2009 (Same Financial Year). If the company avails only 15% of cenvat in the year of purchase, then wat abt balance 85% of Cenvat credit, can the company avails cenvat in the subsequent years, eventhough the capital goods is not in existences???

(or)

Can The Company Avail 100% cenvat Credit for the capital goods in the year of Purchase itself??


pls. clarify...

as per cenvat credit rules
2)(a) The CENVAT credit in respect of capital goods received in a factory or in the premises of the provider of output service at any point of time in a given financial year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year:

PROVIDED that the CENVAT credit in respect of capital goods shall be allowed for the whole amount of the duty paid on such capital goods in the same financial year if such capital goods are cleared as such in such financial year:

PROVIDED FURTHER that the CENVAT credit of the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, [x x x], in respect of capital goods shall be allowed immediately on receipt of the capital goods in the factory of a manufacturer.


Help me whether the duty leviable under 3(5) on capital goods can be claimed 100% in the year of receipt or not

We received our excise registration certificate on 8th july and paid duty on import goods on 9th july in this can we claim cenvat credit on the imported goods.

Kindly clarify at the earliest

Dear Expert,

A SSI unit choosed the option of availing exemption of not paying duty upto Taxable T-O of Rs.1.5 Cr, but done purchase of bulk raw materials which will be used as inputs for output Taxable T-O of Rs.5 Cr. In that case can the unit is eligible to take cenvat credit proportionately on inputs used in the manufacturing Taxable T-O over and above 1.5 Cr exemption limit even though purchased at the beginning of production. If yes please quote the relevant statutory provisions.

Thanks & Regards,
Gopi

We had applied for Excise Registration 2 weeks back and then we imported some goods.

Now we have received our Excise Registration No and also the imported goods has arrived on the same date of getting Registration No. Can we avail cenvat credit on the above import?

Kindly clarify at the earliest.

Sir,
I had purchased a Forklift for my company. The CENVAT credit had been utilised in the last two years. Now we are planning to sell the forklift.
Do we have to reverse the credit utilized completly? What is formality to Invoice the item?
Kindly advice.

Regards
Vinod