18 June 2011
Hey frnds plz suggest on below query, *can we take CENVAT credit on steel items (HR Plates, Angles etc) used during manufacturing of machine items like Oil Tank, Air Vessels etc. the steel items were provided by us to in-house contractor
*Are we need to take manufacturing Registration for the said machines from Excise Department for CENVAT credit purpose.
*Whether we have to pay excise duty on manufactured machines vale added items and shall we take Cenvat credit of the same.
19 June 2011
to avail cenvat credit 1) you have to get registered 2) inputs must be purchased under "excise invoice" having your registration number 3) you have to pay duty on all your clearances including the machines manufactured.
CAclubindia
