06 September 2016
our company purchase machinery. at the time we pay excise duty of Rs.600000 can i take full credit of whole amount.
if yes please provide any notification
12 September 2016
CENVAT Credit on capital goods has to be availed in two stages except by SSI. 50% to be availed in first year when goods received and balance 50% in subsequent year. SSI unit can avail 100% CENVAT in the very first year
In case of additional custom duty paid u/s 3(5) of Custom Tariff Act ( Special CVD), 100% CENVAT credit will be available in first year itself ,
CAclubindia
