banner_ad

Query on rule 3(5) of cenvat credit rules 2004

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 February 2009 Proviso to rule provide that id capital goods are removed as such after being put to use then the mfg. has to pay an amount equal to cenvat credit availed in respect of such goods reduced by 2.5 % for evry quarter of year or part thereof starting from the date of taking cenvat credit .

My query is that if mfg. having acquired cap goods and put to use and removed it out of factory in the same financial year , is he is required to pay an amt. eqaul to 50% cenvat availed as reduced by 2.5 % per quarter of use or otherwise .
Profile Image

Rajesh Kumar

Profile Image

Rajesh Kumar (Expert)
18 February 2009 Firstly he should take full credit.
Then he should calculate new duty after deducting an amount @ 2.5% per quarter and pay duty.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 02 May 2026
Accounts and Audit Assistant

Kothawade and Laddha

Thane

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
28 April 2026
Senior Accounts Professional

Vivek S Gupta & Associates

New Delhi

B.Com

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 April 2026
CA Articled Assistant

GM Corporate Solutions

Noida

CA Final

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
27 April 2026
Senior Accountant

Jyoti K agarwal & co

Mumbai

Others

View Details