Cenvat credit

The lessee is eligible for the availment of CENVAT credit on Import Duty paid on the machinery taken on lease:

As per Rule 4(3) of the Cenvat Credit Rules - Capital goods obtained on hire purchase, lease or loan agreement from a financing company are eligible for cenvat credit.

Also, as per "Leamak Healthcare P Ltd. v. CCE(2010) 259 ELT 554 (CESTAT)" it was held that - Cenvat credit will be available even if hire of machinery is by a non finance company.

Also, as per "Maruti Udyog v. CCE 2004 (165) ELT 226 (CESTAT)" it was held that - Ownership is not relevant for assessment of Cenvat credit.

Hi Rishabh,

- In this case what documents our compny should gives to lessee for availing CENVAT credit?

- Secondly, ownership of machinery remains with our compny till last installment, in this case hows and when invoice should be given to lessee?

Thanks 

Ajit Gajera