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cencat credit

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(Querist)
24 November 2008 wether excise paid on purchase of Block item is available as credit for manufacturing unit
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CMA Jitendra Singh

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CMA Jitendra Singh (Expert)
24 November 2008 Is block items are capital goods
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maitri

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maitri (Querist)
24 November 2008 YES BLOCK ITEMS ARE CAPITAL GOODS
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CMA Jitendra Singh

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CMA Jitendra Singh (Expert)
24 November 2008 Credit available
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Rahul

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Rahul (Expert)
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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