Records maintained
This query is : Resolved
Abhijit Guchait
(Querist)
05 October 2010
Sir
We are the manufacturer of Bitumen and we newly set a Industrial Unit in West Bengal.We purchased machinery and different capital goods on which we had paid Basic Excise Duty and we had already produced finished goods but no sale is made right now. My query is whether we claim CENVAT Credit on Inputs and Capital Goods in this situation and if so what are the records and register we have to maintained and what is the date of payment of excise duty and date of filling of excise return.
We are the manufacturer of Bitumen and we newly set a Industrial Unit in West Bengal.We purchased machinery and different capital goods on which we had paid Basic Excise Duty and we had already produced finished goods but no sale is made right now. My query is whether we claim CENVAT Credit on Inputs and Capital Goods in this situation and if so what are the records and register we have to maintained and what is the date of payment of excise duty and date of filling of excise return.
Madhukar N Hiregange
(Expert)
07 October 2010
Yes you would be required to maintain private records indicating some information. ideally please buy and refer to a book on central excise procedures. Centax publication - V Raghuraman has a number of procedures.
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