Availability of CENVAT Credit

Last updated at April 16, 2024 by

If turnover is exempt in current year, then no CENVAT can be taken of

  • Inputs
  • Input Services

However, Cenvat on Capital goods can be taken but it can be utilized only on paying excise duty greater than 1.5 crore.

Normally on capital goods 50% cenvat to be taken in current year and 50% in next year but in this case, 100% Cenvat available in first year itself

 

 

 

 

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.