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Capital goods

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 January 2012 Respected Sir,
if i take 50% credit amt.to Rs.10000, value of the machinery is 200000.00
& I sale machiney in the 2 months after receipt then we have to calculate duty on 50% taken or 100% of duty? and can we take remaining 50% credit on the sold machiney next year.
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U S Sharma

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U S Sharma (Expert)
26 January 2012 in such case you are eligible to take balance 50% credit before clearance of such machines, and clear the goods on reversal of 100% duty credit availed,
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