Cenvat Credit to be availed on Carbide Inserts and End Mills

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
20 November 2009 Are Carbide Inserts and End Mills to be treated as "Capital Goods" as per Chapter 82- Tools of the Tariff Act, and only 50% of the credit is to be availed in the year of purchase?
Or As these inserts are used and worn out within a year, due to continuous usage in Machining, it has to be treated at par with Consumables and full credit can be availed?
Please answer with details of the Act, Rules or Notifications.

Regards,
Sriram.

22 November 2009 Chapter 82 treat in capital goods so you are liable to avail 50% credit in this yr.

22 November 2009 yes, only 50 % in that year,not 100%.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
10 December 2009 Yes got the answer. Thanks for posting


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


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news



Answer Query



Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details