Cenvat credit
This query is : Resolved
05 September 2013
we have hired a third party to make a Die for our company. The party makes the die and raised a tax invoice to us But the die is still used by such third party for making the finished products for us.
Now the question is that, as there is no physical movement of the die(capital goods), then how can we take the CENVAT credit involved in such tax invoice.
Now the question is that, as there is no physical movement of the die(capital goods), then how can we take the CENVAT credit involved in such tax invoice.
05 September 2013
Capital goods used at job worker's premises for work on inputs are not eligible. However, the matter is arguable. Rule 4(5)(a) of cenvat credit rules specifically provides that inputs as well as capital goods can be sent to a job worker as such or after be partially processed, for processing, testing, repair, reconditioning or for any other purpose. The only requirement is that these should be brought back in 180 days.
11 September 2013
Thanks Mr. Arun.
sorry, I forgot to insert the main issue in my question.our Job worker makes the die and he posses such die with himself for manufacturing Finished product for us.
It means we do not received the die in our factory.For CENVAT purpose, the basic condition is that the Capital Goods must received in the factory.The jobworker raises a tax invoice for such die including excise.
Now, in such case, can we take the CENVAT involved in such tax invoice.
sorry, I forgot to insert the main issue in my question.our Job worker makes the die and he posses such die with himself for manufacturing Finished product for us.
It means we do not received the die in our factory.For CENVAT purpose, the basic condition is that the Capital Goods must received in the factory.The jobworker raises a tax invoice for such die including excise.
Now, in such case, can we take the CENVAT involved in such tax invoice.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
