Cenvat credit on capital goods
This query is : Resolved
17 September 2016
Sir,
We purchase a machine in March month gate inward in March but machine installed after two month in May.Can we availed credit in march
My query is?
Machine installation is mandatory to availed Capital Goods credit?
We purchase a machine in March month gate inward in March but machine installed after two month in May.Can we availed credit in march
My query is?
Machine installation is mandatory to availed Capital Goods credit?
17 September 2016
Yes, As per Cenvat credit Rule 4(2), the credit on capital goods can be taken at any time during the year provided it is received in factory and 50% of the duty paid is availed in the first year and remaining 50% in subsequent years.
Thanks.
Thanks.
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