We are purchaseing one machine on duty of payment ( Capital
Goods) in the staring of the month financial year 2009-10
at the time of purchase of machine we are not registered
with the excise department. But my company registred with
the excise department end of the same financial year
What can we are taken cenvat credit on capital goods in the
year 100% of 50% pls. given the comments or explain me all
excise exparts.
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Answer Posted / jayaseelan
It is immaterial that you got registered with excise
department or not, but as per Cenvat Credit Rules 2004, 50%
eligibile for current fiscal, another 50% eligible for
subsequent fiscal.
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