The expression “unavailed CENVAT credit” means the amount that remains after subtracting the amount of CENVAT credit already availed in respect of capital goods by the taxable person under the existing law from the aggregate amount of CENVAT credit to which the said person was entitled in respect of the said capital goods under the existing law.
For example: As per the existing provision of Cenvat Credit Rule, Cenvat credit on capital goods can be availed 50% on the year of purchase and 50% can be availed any other subsequent year form the year of purchase. There is possibility that the unavailed cenvat credit be there on the appointment day
