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Cenvat on capital goods purchased

This query is : Resolved 
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(Querist)
19 May 2009 Hi,
If a company purchases some tools or spare parts which are although of Capital nature but due to small amts, charges in books in same year. Now the Excise duty paid upon the purchase will be considered as for Capital goods and be eligble for input in two years or can it be claimed in same year in full.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
19 May 2009 Though amount is less as per rule you will get exemption by cionsidering it CG.
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varun gupta

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varun gupta (Querist)
20 May 2009 Will there be need to book such expense accoridngly to tally the records with excise return?
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
25 May 2009 The credit has to be availed in 2years. 50% in the year of receipt + 50% on 1st April of the next year as long as the same fall under the chapter heads specified un der the definition.
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