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Cenvat
Is it possible to take cenvat credit on inputs when the final products are cleared from a place subject to area basd exemption scheme?
Replies (2)
cenvat credit is possible only when the final products or services are cleared on payment of duty, when the final product is exempt then duty paid is part of purchase only, and can not be claimed.,
The scheme of CENVET is to adjust the duty paid on inputs at the time of paying the duty on final product.So,when duty on final product is not payable credit on input can not be taken.
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