Availing cenvat on capital goods
This query is : Open
Manjunath S
(Querist)
04 May 2017
My Query is about Availing Cenvat on Capital Goods.
We purchased 6 Capital Goods in March 2017 and 3 accounted in our system in March itself. Another 3 is not accounted since bill is not reached us.
After ER-1 returns on April 10, we received another 3 pending bills and accounted for March itself since material received in March and bill date is also in March 2017. But these three bills are not reflected in ER-1 since return was already filed.
Now can we avail 100% Cenvat credit in April 2017?
Because 50% credit is already showing in SAP since accounted in MARCH 17 and another 50% is supposed to transfer now.
Please advice.
We purchased 6 Capital Goods in March 2017 and 3 accounted in our system in March itself. Another 3 is not accounted since bill is not reached us.
After ER-1 returns on April 10, we received another 3 pending bills and accounted for March itself since material received in March and bill date is also in March 2017. But these three bills are not reflected in ER-1 since return was already filed.
Now can we avail 100% Cenvat credit in April 2017?
Because 50% credit is already showing in SAP since accounted in MARCH 17 and another 50% is supposed to transfer now.
Please advice.
04 May 2017
Yes if 50% not claimed in the year of purchase. You can take it 100% in second year
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Manjunath S
(Querist)
04 May 2017
Thank u very much for ur immediate response.
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