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capital goods partial used

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13 December 2010 If capital goods after partial used removed from factory. Amount equal to Cenvat credit taken at the time of entry shall be paid.
My question is- whether cenvat credit avialed is utilised for payment of duty.


if any case law,pls let me know the same
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
14 December 2010 The whole purpose of taking the cenvet credit is to adjust against the liability of duty payment.
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tarun goel

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tarun goel (Expert)
15 December 2010 yes, you have to reduce the cenvat credit taken on the capital goods @ 2.5% per quarter of the usage. for further clarification kindly go through the Rule 3(5B) of the Cenvat Credit Rule,2004 as amended.
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