11 February 2017
Sir, I wanted to ask whether CENVAT credit on input goods (goods other than Capital Goods defined under Rule 2(a) of Cenvat Credit Rules ) can be availed @50% in the year of purchase and balance 50% in the subsequent FY if such goods have to be capitalized on the Books of Accounts?
12 February 2017
Cenvat credit can be availed 50% first year. Balance 50% in the second year or 100% in the second year. Capitalization can be done at the year of purchase, restrictions is with respect input credit not on Capitalization.
CAclubindia
