Cenvat credit on capital goods
This query is : Resolved
06 October 2011
A concern is manufacturing Goods both exciseable and at concessional rate of duty from a common Input. May please advice whether CENVAT Credit on Capital Goods is allowable.
Regards
Sanjeev
Regards
Sanjeev
U S Sharma
(Expert)
06 October 2011
yes, input credit of cenvat paid on capital goods are allowed
the only case where the assessee does not have liability of payment ( producing exempted goods), where capital goods are not cenvatable.
the only case where the assessee does not have liability of payment ( producing exempted goods), where capital goods are not cenvatable.
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