Cenvat Credit of FOC material
This query is : Resolved
22 July 2011
X limited is a manufacturer based at Noida . For the construction of structures for new buildings in its factory and for construction of structures in support of capital goods ,X limited is buying cements and many special types of steel. Since cement and special types of steel used in construction of structures cannot be classified as inputs ,X Limited is not able to take Cenvat credit.
These materials are issued by X limited to construction contractors on Free of cost basis who are using these materials for providing construction services to X limited.Can X limited issue an excise invoice to its construction contractors when it supplies them these materials free of cost?.If it does so will the construction contractors be able to take Cenvat credit of the cement and special types of steel?
These materials are issued by X limited to construction contractors on Free of cost basis who are using these materials for providing construction services to X limited.Can X limited issue an excise invoice to its construction contractors when it supplies them these materials free of cost?.If it does so will the construction contractors be able to take Cenvat credit of the cement and special types of steel?
25 July 2011
It depends what is the contract between the company and the contractor. Till this is know it is very difficult to answer
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