CENVAT CREDIT ON GREASE & LUB. OIL

SANTISWARUP CHAKRABORTY (Indirect Taxation) (38 Points)

31 July 2008  

PLEASE PROVIDE YOUR VALUABLE OPINION AS FOLLOWING QUIRES :-

if factory is under construction and installation of machinery and we purchased hugh quantity Grease and Lub oil use for machines. It is not running factory.

In this situation can I treat CENVAT on Grease and Lub oil as capital goods?

Thanks,