Cenat & dep.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 October 2012
Dear Sir,
Can we get cenvat for Electronic Transformer Purchase for new factory ????
& Can we Claim Dep. on the Electronic Transformer as well as Weigh Bridge at new factory which is still under construction ???
Can we get cenvat for Electronic Transformer Purchase for new factory ????
& Can we Claim Dep. on the Electronic Transformer as well as Weigh Bridge at new factory which is still under construction ???
17 October 2012
Yes u can take cenvat credit on electronic transformer as cenvat on capital goods i.e. 50% in CY and 50% in next year.
Further u cannot claim dep if asset is under construction and show it as capital WIP
Further u cannot claim dep if asset is under construction and show it as capital WIP
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