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Cenvat credit

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(Querist)
23 December 2014 Dear Sir,
we have purchase machineries in our company shall we take cenvat credit on the same purchases against Excise duty payable.
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Ketan Shah

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Ketan Shah (Expert)
23 December 2014 Cenvat in capital goods is available as per conditions of cenvat credit rules i.e. 50% in year of purchase and 50% in subsequent year. Also the depreciation should not be claimed on cenvat credit taken.

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