Cenvat credit on capital item.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2013
We are manufacturer of plastic moulded item and at present our unit is not registered with excise dept.We will cross the turnover Rs.90 lacs in near future,but under our expantaion plan one machine we are going to purchase during next week.Pl.advice that can we take cenavat credit on this machine purchase when we will get the ECC no. ?
Thanks,
Thanks,
13 September 2013
The Govt. has therefore, given various concessions to
small scale industries (SSI). The most important notification giving these concessions is
notification No. 8/2003 dated 1-3-2003. SSI units whose turnover is less than Rs. 4 crores
are eligible for the concessions. If SSI unit does not avail Cenvat on inputs, turnover upto
Rs 150 lakhs is fully exempt (The limit was Rs 150 lakhs upto 31-3-2007). If SSI unit
avails Cenvat on inputs, it has to pay full normal duty on all its clearances.
small scale industries (SSI). The most important notification giving these concessions is
notification No. 8/2003 dated 1-3-2003. SSI units whose turnover is less than Rs. 4 crores
are eligible for the concessions. If SSI unit does not avail Cenvat on inputs, turnover upto
Rs 150 lakhs is fully exempt (The limit was Rs 150 lakhs upto 31-3-2007). If SSI unit
avails Cenvat on inputs, it has to pay full normal duty on all its clearances.
Message likes :
2 times
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Average Cost Of High Quality Diamonds
- ITR 4 OR ITR 3 WHICH FORM CHOOSE
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
