Cenvat credit on imput services of freight ??

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 February 2015 I wanted to enquire what treatment should be done to the inward freight paid to bring the Input to the factory :
(a) Can we Book the freight separately and claim Cenvat Credit on Freight paid
OR
(b) We have to show it as a part of Purchases ??

Experts Plz Help ???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 February 2015 Freight can be booked separately and cenvat credit can be claimed.

Querist : Anonymous

Querist : Anonymous (Querist)

11 February 2015 Thank you sir ...

Also I want to ask if we can treat the spares and components as fixed assets if it doesn't pass the definition of capital goods as per CCR, 2004??

PLz Help

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 February 2015 Components and spares can be capitalized and depreciated over their useful life provided if its life is more than one year.

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