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Service tax canvet credit

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(Querist)
22 January 2013 Dear,

I purchase a plant & machinery so i can take canvet excise duty in service tax & deprecation
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 January 2013 You can take Cenvat 50% in the year of purchase , balance 50% in next year

Depreciation can be availed the amount after deducting the cenvat amount. that is you cannot avail depreciation on cenvat portion

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