Dear Expert,
Can we utilise cenvat credit for payment of duty under rule 3 (5b) of CCR 2004?
Please clarify.
Thanks.
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Cenvat credit rule 2004
Replies (5)
As per rule 3(5B) of cenvat credit rules (inserted w.e.f. 11.05.2007), if (inputs) or (ii) capital goods before being put to use, are written of fully or partly or any provision is made in books of account to write off fully or partially, the manufacturer or service provider is required to pay an 'amount' equal to cenvat credit taken in respect of such inputs or capital goods.
Sir rule i know but My Q is that for payment of duty payable u/r 3(5b), can we utilise cenvat credit.
As the rule 3(5b) says manufacturer have to pay "an 'amount'"
Yes, you can utilise from cenvat credit.
Thanks Sir.
When one can take cenvat credit of service tax payable under reverse charge ?
Whether on payment of servicetax or other wise?
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