Time limit for availing cenvat credit on capital goods

Dear Sir,

As per rule 4 third proviso of CENVAT Credit Rules 2004, the time limit for availment of CENVAT credit is one year. 

In your case the time is beyond the prescribed limit. Being so, you are not entitle for CENVAT Credit.

Thanks lot Mr.Anurag, we have consulted with our tax consultant & Lawyer, he also expressed the same as you said.

we can avail credit

Thank you sir for your reply, the mentioned rule talk about only Input & Service tax credit, but for capital goods there is no time limit, only thing we can avail 50% and balance can be availed in subsequent year.

Thank you sir.

Yes

Mr. Anurag is right. There is no time limit for availment of CENVAT credit in the case of capital goods. My aforesaid answer is regarding to inputs not the capital goods.

Yes, Anurag version is correct,

The one year condition is applicable for only Inputs n Input Services.

No time limit for capital goods but condition of non claiming of depreciation under income tax. Machines purchased in 2013 credit available in 2016. 

However the depreciation on the whole value ( including the credit amount) may have been claimed  and returns filed under income tax. There is a bar on the same in the CCR.

Therefore if the credit for past years is to be claimed then a revsied return offerring the credit portion for income tax, payment of tax with interest needs tobe done. After that the credit can be claimed.

cenvat ralating to written down value of asset can be claimed and the same to be reduced from the written down value.

Dear, Experts we are at Manufacture firm. we have capital bill dated 27.02.2014 while we taken ECC number in 2015. We taken credit on 01.03.2015. it is ok.???

what is rule & cause.??