Reversal of cenvat credit on capital goods
This query is : Resolved
05 November 2012
We are the manufacturer of Footwear products, Our product going to non excisable in the latest budget and we are revised the CENVAT Credit taken on Input raw materials on that date.
Our clarification regarding the CENVAT Credit taken on Capital Goods is to be revised or not?????
Regards
Javad
CMA
Calicut
Our clarification regarding the CENVAT Credit taken on Capital Goods is to be revised or not?????
Regards
Javad
CMA
Calicut
U S Sharma
(Expert)
08 November 2012
if you wish to maintain the regn and file NIL return, then cap goods credit you can hold, for any use in future.
if u wish to surrender the regn then such credit will lapse at par with cenvat credit on inputs.
if u wish to surrender the regn then such credit will lapse at par with cenvat credit on inputs.
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