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New establishment
We are establishing new unit at gujarat and accordingly various raw material,consumable and bop and fixed asset are purchased time to time.
According to new notification one can utilise cenvat within 6months.
however,we are not in position to start production within 6month.
so can we avail cenvat and utilise after 6month or can take refund or any other alternate.
Replies (2)
Dear Deepanshu,
as u said that u r nt in a position to utilise the ccr within 6 months, u cn apply for refund of the ccr which is near about to lapse. u hv to convince the authority with ur plea why u want refund and production has not been started in the factory and u r unable to generate duty to utilise the ccr. or ask them to start the ccr validity from the day of production start. otherwise the only way is to book the lapsed ccr as the expenditure in the accounts.
it is a time taking process and could be a ladmark decision.
6 months limit is for availment utilisation can be made even after 6 months
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