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Cenvat.

This query is : Resolved 
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(Querist)
25 July 2009 Dear Sir,

Pl.send me information about Cenvat Credit of Capitalized items.

can i take 100% cenvat credit on capital items ?


Regards,

Vinod.
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
25 July 2009 You can take 100% Cenvat on Capital Goods, but in two instalments. Upto 50% in the year of receipt and balance in subsequent years.

A word of Caution:-

Capital Items as per normal accounting principles and Capital Goods as per the Cenvat Credit Rules are different.
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