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CENVAT Credit set off with the 50% Capital Goods Cenvat?

This query is : Resolved 
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(Querist)
11 July 2009 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.
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
12 July 2009 If the surplus is available trhoug out the period there is no issue at all. The dept cna only ask for interest when there is insufficient balance.
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