Cen vat credit on capital goods
This query is : Resolved
30 July 2012
Dear Sir,
I am a manufacturer of auto part and i import a machinery on which i have paid cvd,additional duty , advise me now that can i avail total cenvat credit on one financial year (in one time )or 50% in current financial year and rest 50% in next financial year.
I am a manufacturer of auto part and i import a machinery on which i have paid cvd,additional duty , advise me now that can i avail total cenvat credit on one financial year (in one time )or 50% in current financial year and rest 50% in next financial year.
Madhukar N Hiregange
(Expert)
30 July 2012
Yes you can avail the credit on the add duty + SAD- 50% in the year of receipt and the balance in the subsequent years as long as the same is used for manufacture of the goods on which duty of excise is payable.
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