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UTILISATION OF CENVAT CREDIT

This query is : Resolved 
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(Querist)
26 September 2008 A PLAIN READING OF CENVAT CREDIT RULES SUGGEST THAT THERE IS NO NEED FOR AN EXCISE PAID INPUTS TO BE CONSUMED IN ORDER TO TAKE CREDIT ON CLEARENCES EFFECTED BY A UNIT. IN OTHER WORDS THERE IS NO ONE TO ONE CORELATION BETWEEN CONSUMPTION OF INPUTS AND AVAILMENT OF CREDIT FOR CLEARANCES OF FINAL PRODUCTS IS MY CONTENTION RIGHT?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
26 September 2008 Yes.
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Ravikumar.G

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Ravikumar.G (Expert)
26 September 2008 Yes. The basic concept of CENVAT is to avoid the cascading effect of duty.
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vinod

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vinod (Expert)
26 September 2008 yes
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