Cenvat credit on capital goods before registration

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2012 Sir,
We are undergoing for new manufacturing plant, machines are ordered, but plant is under construction, hence excise registration is not obtained yet, in such criteria, can we avail credit of capital after obtaining registration or setting up plant ! pl guide us.

Kishor Darole

Kishor Darole (Expert)
Follow

06 August 2012 Dear,

Yes, You can avail 50% Cenvat credit on the capital goods before registration is not obtained BUT YOU HAVE APPLIED FOR THE SAME.

Please maintain the proper receipt record, commissioning and installation of the same.

Regards
Kishor Darole

SANYAM ARORA

SANYAM ARORA (Expert)
Follow

06 August 2012 Cenvat credit on capital goods can be obtained upto 50%

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2012 Thanks for the answer, But we have not even applied for the excise registration, and machines i.e. capital goods are reaching to us within a day or two.

Kishor Darole

Kishor Darole (Expert)
Follow

06 August 2012 During starting of a new plant activity, you have to apply to Central Excise office with procedure of "SACER", along with ground plan, layout, Land owenrship documents, PAN, Mfg process, Bank a/c etc.etc. Whenever you will receive the capital goods, intimate to Range office and preserve the copy with Invoice. During verification from Excise Supdt, he may check all these documents with physical. In this case, by following above procedure, You can avail 50% Cenvat credit.

Regards
Kishor Darole

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2012 Thanks,

What is the meaning of SACER !

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now