Cenvat Credit

Dear Mr.BAYYAREDDY

Yes, you can do this,

for this you have to surrender your registration.

Thanks & Regards

Sachin Adsul

You want to avail SSI exemption after 01-04-2009. You can do so. Reverse the accumulated credit on 01-04-2009 and dont avail credit. Clear your goods without payment of duty, till 1.5 crore.

It appears that you want to retain excise registration. If you are doing that, you will need to file quarterly return.

Dear Mr.BayyaReddy,

kindly note the important about your query:-

in this financial year you can avail the two scheme of the central excise.

1. you can pay duty on your sales from the first invoice and avail credit from the begening itself it is so called as CENVAT scheme.

For this you need not to submit any declaration to the department.

2. you need not to pay duty on your sales till you crossing 150 laks and you cant avail input credit from your purchase.

For this you must do two things:-

(i) you must reverse the input credit from your lying stock (raw material, semi finished and finished goods) 

(ii) you must file a declaration letter to the department for availing a SSI scheme under Notification No.8/2008 dated 01.03.2008. and please note that file a declaration before you making your first sales invoices.

C.BOSCO. M.A.,B.L.,