About cenvat credit to capital goods

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Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2016 hi
if i take cenvat credit on capital goods than will it be effect to income tax? if yes or no !!!! so how?

CA Saurabh Singh (Expert)
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30 June 2016 Hello,
If you are taking CENVAT on Capital goods, you canot claim the same as depreciation in Income tax

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Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2016 ok sir
and what is part of refund in income statement it will be show or not

CA Saurabh Singh (Expert)
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30 June 2016 Sorry please specify your question

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2016 i mean, Is cenvat refund the part for income statement or not?

Rupesh Jain (Expert)
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30 June 2016 no, its duties & tax Dr bal.. and take set off against the excise liability .

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