Cenvat cresit on staff bus purchased
This query is : Resolved
gautam chauhan
(Querist)
29 November 2012
whether staff bus purchased by company eligible as the capital goods and hence, 50% credit in first year and remaining in subsequent year?
plz assist me as per the ammendment in the definition of capital goods wef 1/4/2012.
plz assist me as per the ammendment in the definition of capital goods wef 1/4/2012.
CA CS Amit S. Kedia
(Expert)
29 November 2012
Staff Bus is not a capital goods as per definition of capital goods under canvat credit rules, hence you are not eligible for cenvat credit
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