CENVAT CREDIT
This query is : Resolved
Kumaresan Grad CWA
(Querist)
11 July 2009
M/s XYZ Ltd Purchased a Capital goods on 01/05/2008 and sold the same Capital Goods On 20/01/2009 (Same Financial Year). If the company avails only 15% of cenvat in the year of purchase, then wat abt balance 85% of Cenvat credit, can the company avails cenvat in the subsequent years, eventhough the capital goods is not in existences???
(or)
Can The Company Avail 100% cenvat Credit for the capital goods in the year of Purchase itself??
pls. clarify...
(or)
Can The Company Avail 100% cenvat Credit for the capital goods in the year of Purchase itself??
pls. clarify...
Rajesh Kumar
(Expert)
12 July 2009
They can avail the credit at the time of sale, even when it is in the same financial year.
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