Capital Goods Cr. in Cenvat & Depreciation.
This query is : Resolved
Rajendra Ahire
(Querist)
16 April 2010
Dear Sir,
Last year (2009-10) We have Purchased machinery. and taken the 50% credit of cenvat.
and now can we will claim for depreciation on the same ?
Pls help.
Thanks & Regards,
Rajendra Ahire
Last year (2009-10) We have Purchased machinery. and taken the 50% credit of cenvat.
and now can we will claim for depreciation on the same ?
Pls help.
Thanks & Regards,
Rajendra Ahire
Madhukar N Hiregange
(Expert)
17 April 2010
This year you can claim the balance 50% of CED as credit.
Depreciation is to be net of credit.
Example- CG worth Rs. 100 CED Rs. 8/-
Deprecuiation only on 100 not on 108 or 104.
Depreciation is to be net of credit.
Example- CG worth Rs. 100 CED Rs. 8/-
Deprecuiation only on 100 not on 108 or 104.
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