UTILISATION OF CENVAT CREDIT
This query is : Resolved
P.S.VISHWANATHAN
(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?
S.Srinivasaraghavan
(Expert)
26 September 2008
Yes.
Ravikumar.G
(Expert)
26 September 2008
Yes. The basic concept of CENVAT is to avoid the cascading effect of duty.
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