cenvat on capital goods
This query is : Resolved
10 July 2009
as per cenvat credit rules
2)(a) The CENVAT credit in respect of capital goods received in a factory or in the premises of the provider of output service at any point of time in a given financial year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year:
PROVIDED that the CENVAT credit in respect of capital goods shall be allowed for the whole amount of the duty paid on such capital goods in the same financial year if such capital goods are cleared as such in such financial year:
PROVIDED FURTHER that the CENVAT credit of the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, [x x x], in respect of capital goods shall be allowed immediately on receipt of the capital goods in the factory of a manufacturer.
Help me whether the duty leviable under 3(5) on capital goods can be claimed 100% in the year of receipt or not
2)(a) The CENVAT credit in respect of capital goods received in a factory or in the premises of the provider of output service at any point of time in a given financial year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year:
PROVIDED that the CENVAT credit in respect of capital goods shall be allowed for the whole amount of the duty paid on such capital goods in the same financial year if such capital goods are cleared as such in such financial year:
PROVIDED FURTHER that the CENVAT credit of the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, [x x x], in respect of capital goods shall be allowed immediately on receipt of the capital goods in the factory of a manufacturer.
Help me whether the duty leviable under 3(5) on capital goods can be claimed 100% in the year of receipt or not
Ram Avtar Singh
(Expert)
10 July 2009
Yes U can take Additional duty 100%
16 July 2009
thanks but can u prove by any case laws or any explanations or clarifications by cbec
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