Cenvat credit of capital goods by SSI unit.
This query is : Resolved
05 October 2009
An SSI manufacturing unit purchased capital goods in March'09 and took 50% Cenvat credit in March itself.Thereafter, on 1st April,it opted for SSI exemption upto 150 lacs. Its likely to cross exemption limit of Rs 150 lacs in October'09. My question is, when should the unit take the balance 50% credit on Capital goods and how its to be shown in ER3. Naturally ofcourse, it can only be utilized when the unit starts paying normal duty.Pls reply soon.Thanks.
Madhukar N Hiregange
(Expert)
07 October 2009
Balance credit can be availed after ocotber 2009 as and when the duty becomes payable. No bar as balance can be availed in any suibequent years!!
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