Cenvat credit on capital goods
This query is : Resolved
JAYAKUMAR.M.G
(Querist)
15 June 2012
Sir
One of my client, who commenced Manufacturing during January 2012, and their turn over likely to exceed Rs 150 Lakhs during this year, whether they are eligible for CENVAT Credit on Capital Goods of Plant & Machinery purchesed during 2011-12?. Pls note that their turn over for 2011-12 is Rs 50 Lakhs only and not having CE registration.
RGDS
One of my client, who commenced Manufacturing during January 2012, and their turn over likely to exceed Rs 150 Lakhs during this year, whether they are eligible for CENVAT Credit on Capital Goods of Plant & Machinery purchesed during 2011-12?. Pls note that their turn over for 2011-12 is Rs 50 Lakhs only and not having CE registration.
RGDS
Arun Kumar Singh
(Expert)
16 June 2012
After Excise registration and paying duty you have to purchase any capital goods will be eligible for cenvat credit. Before registration date capital goods will not eligible for cenvat credit.
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