Cenvat credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 April 2012
IF ENGINEERING UNIT MANUFACTURE EXCISABLE GOODS AND IT USE CONSUMABLE TOOLS LIKE INSERTS, DRILL, CUTTER & COOLANT OIL TO MANUFACTURE A FINAL PRODUCT.
WHETHER COMPANY GET 100% CENVAT IN THE SAME YERA OR 50% IN A CURRENT YEAR AND 50% IN SUBSIQUENT YEAR?
WHETHER COMPANY GET 100% CENVAT IN THE SAME YERA OR 50% IN A CURRENT YEAR AND 50% IN SUBSIQUENT YEAR?
21 April 2012
company can claim 100% cenvat in the same year as these goods are covered under input definition.
In case of capital goods, 50% in the year of purchase and 50% any subsequent year is allowed.
In case of capital goods, 50% in the year of purchase and 50% any subsequent year is allowed.
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