We have started purchasing of excise duty paid raw material immediately after receving our TIN no. form Sale Tax authorities, after a gap of alomst a year, we start manufacturing after registring ourselves with Excise authorities.
Can we get CENVAT Credit of the excise duty, in that month, in which, we start manufacturing of finished goods.??
The SSI unit is premitted to avail exemption upto exemption limit and then pay duty. The SSI unit can avail cenvat credit in when it starts paying duty in middle of the year. The SSI unit can also avail cenvat credit in respect of inputs lying in stock, in WIP and in final products, when it starts availing cenvat credit.
PARV & Co.
New Delhi
CA Inter
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K R Kiran Kumar & Associates
Bengaluru
CA Inter
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CCI
Pro
CAclubindia
