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Cenvat of excise duty

EXICSE (Legacy) 299 views 2 replies

CMA Pramod Derle

acountant

40 Points Posted on 13 April 2016

In our case we are taking excise number & purchase machinary cenvat taken on that machinery but 2 to 3 years that machine we are utilised for job work only after 3 years we are starting manufacturing goods can we are liable for utilised that capital goods cenvat againt the now manufacturing goods. is three in limitation for utilising cenvat credit (we are regular file excise return * carry forward cenvat next year)

Replies (2)

ACCOUNTANT

Student

575 Points Posted on 14 April 2016

cenvat credit obtained on purchase of machinery can be claimed at the time of charge on the manufactured product.Even though credit claimed soon at the purchase of machinery, balance is claimed at point of charge/even after 3 yrs

Venkatanarayana GM

Partner associate at Hiregange & Associa

1279 Points Posted on 17 April 2016

Once you availed the credit in returns, you can go on utilizing that credit. Provided your a manufacturer and paying excise duty at normal rates and not claimed any concessional benefits.

Venkat

venkat @ hiregange.com

9620116162