Rule 4 under CCR does not Create any Embargo on CENVAT Credit Claim on Capital Goods in any Subsequent Financial Year: Gauhati HC [Read Order]

The court held that the order for recovery of the amount of CENVAT credit as affirmed by the Tribunal is held to be unsustainable in the eyes of law
Gauhati high court - CCR - Cenvat credit rules - Rule 4 - Capital goods - TAXSCAN

In a recent case, the Gauhati High Court has held that Rule 4 under Cenvat Credit Rules ( CCR ), 2002 does not create any embargo on claiming cenvat credit on capital goods in any subsequent financial year. Premier Cryogenics Limited, the appellant or assessee is engaged in the business of manufacturing oxygen and nitrogen…

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