Cenvat on capital goods at 50% or 100%
This query is : Resolved
udaya chandran
(Querist)
28 February 2013
How much CENVAT credit can we take on Capital goods, 50% or 100% in the first year. Please reply with notification/amendment?
RAMESH KUMAR VERMA
(Expert)
28 February 2013
50% of the credit in the Financial year in which the goods are received and the remaining 50% in the next financial year or subsequent years. For Capital goods received in March, 50% credit can be taken in March and the balance 50% can be taken in April as they fall under two financial years.
FURTHER INFO:
https://www.caclubindia.com/experts/100-cenvat-credit-on-cap-goods-492305.asp#.US8RyDf7crc
eminent expert also CMTS in this matter...please
FURTHER INFO:
https://www.caclubindia.com/experts/100-cenvat-credit-on-cap-goods-492305.asp#.US8RyDf7crc
eminent expert also CMTS in this matter...please
udaya chandran
(Querist)
02 March 2013
Thanks for the answer.
Madhukar N Hiregange
(Expert)
05 March 2013
In normal course that is correct 50% in yr 1 and balance in subsequent years.
For SSI the credit of 100% duty is available in yr 1.
For SSI the credit of 100% duty is available in yr 1.
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