Cenvat Credit on Capital Goods
This query is : Resolved
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
16 June 2008
You can claim cenvat from the date on whic CA assets is received in the premises.
& Max cenvat that can be claimed in forst year is 50% & bal in any subsequent year.
So you can claim 50% in March.
& Max cenvat that can be claimed in forst year is 50% & bal in any subsequent year.
So you can claim 50% in March.
16 June 2008
Thanks for the clarifcation
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- ITDS U/S.194T of Firm
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill not cancelled within 24 hous what can be due
- TDS Return Q1 FY 2026-27
- GST not cancelled by tenant
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
