Cenvat Credit

ya surely you can take 100% credit in the FY 2011-12.......i think rule 4(2) does allow that

moreover i ll tell u few other possiblities

FY 10-11                  FY11-12           FY12-13

NIL                             100%                   -

NIL                              50%                 50%

40%                             60%                    -

60%                             40%   <---------------------------------NOT ALLOWED

PLZ correct me if i m wrong.....

Mr.Mayank is correct. You can take full 100% credit in 2011-12.

Regards

Dayananda

i agree as Only condition is that maximum credit for year of aquisition is 50%. NO other condition regarding following years.

You can take 100% credit in the next year.Rule 4(2)(a) of the cenvat credit rule  dors not say that 50% of the credit has to be takken in the first year itself.Judicial pronouncement also support you,such as Herbicure P .Ltd vs C.C.e 2007(216) E.L.T216.

yes,u can.