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Cenvat Credit on Capital Goods

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(Querist)
15 June 2008 Dear Friends,

Please clarify the following .

1. For availing Cenvat Credit on capital goods is it to be started from the date of invoice/ date on which asset put it into use?

2 For the capital goods act says the credit can be set two years. If I purchase a capital item in the month of March can I eligible to get a credit 50 % in the March and remaining in the April
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Tarun Gupta

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Tarun Gupta (Expert)
17 June 2008 Dear
U can claim the 50% cenvat of duty paid in the F.Y. as u received the capital goods in ur factory etc.and balance in the next F.Y
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