Cenvat credit on steel items
This query is : Resolved
16 August 2013
Sir,
we are from a manufacturing group producing cement. right now our plant is under project and we are getting huge steel materials which are using as support structure or Foundation and some parts are using in fabrication of equipment such as duct, chutes, hopper etc. of which we should have to avail Cenvat credit.
we want to know how to prepare a register or maintain a record so that at the time of audit we can convince auditors that we have taken credit of steel items only which are used in erection and fabrication of equipment and not for support structure and capital goods.
we are from a manufacturing group producing cement. right now our plant is under project and we are getting huge steel materials which are using as support structure or Foundation and some parts are using in fabrication of equipment such as duct, chutes, hopper etc. of which we should have to avail Cenvat credit.
we want to know how to prepare a register or maintain a record so that at the time of audit we can convince auditors that we have taken credit of steel items only which are used in erection and fabrication of equipment and not for support structure and capital goods.
Arun Kumar Singh
(Expert)
18 August 2013
You can take the cenvat credit on lying stock and capital goods. You should consult with any professional.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Tax on Amount transferred in HUF Account
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
