Cenvat Credit on Capital Goods
This query is : Resolved
P.Saravanan
(Querist)
15 June 2008
Dear Friends,
Please clarify the following .
1. For availing Cenvat Credit on capital goods is it to be started from the date of invoice/ date on which asset put it into use?
2 For the capital goods act says the credit can be set two years. If I purchase a capital item in the month of March can I eligible to get a credit 50 % in the March and remaining in the April
Please clarify the following .
1. For availing Cenvat Credit on capital goods is it to be started from the date of invoice/ date on which asset put it into use?
2 For the capital goods act says the credit can be set two years. If I purchase a capital item in the month of March can I eligible to get a credit 50 % in the March and remaining in the April
Tarun Gupta
(Expert)
17 June 2008
Dear
U can claim the 50% cenvat of duty paid in the F.Y. as u received the capital goods in ur factory etc.and balance in the next F.Y
U can claim the 50% cenvat of duty paid in the F.Y. as u received the capital goods in ur factory etc.and balance in the next F.Y
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