cencat credit
This query is : Resolved
24 November 2008
wether excise paid on purchase of Block item is available as credit for manufacturing unit
CMA Jitendra Singh
(Expert)
24 November 2008
Is block items are capital goods
CMA Jitendra Singh
(Expert)
24 November 2008
Credit available
24 November 2008
AS PER RULE 4 OF CCR CREDIT SHALL BE AVAILABLE 50% IN YEAR OF RECIEPT AND BALANCE IN SUBSEQUENT YEAR.BUT CREDIT IS NOT AVAILABLE IN RESPECT OF THAT PART OF CAPITAL ASSET ON WHICH DEPRECIATION IS ALLOWED UNDER SECTION 32 OF INCOME TAX ACT.
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