Cenvet credit of excise
This query is : Resolved
Ramesh Kumar
(Querist)
04 March 2013
How to calculation of Cenvet Credit and How to return of Excise .
RAMESH KUMAR VERMA
(Expert)
04 March 2013
As per the Act, on the purchase of Capital goods at any point of time in a financial year CENVAT credit shall be availed to the extent of 50% of the Duty paid in the same financial year. The balance of CENVAT credit may be availed in any financial year subsequent to the financial year in which the capital goods were received in the factory of the manufacturer.
The CENVAT credit in respect of the capital goods shall be allowed to a manufacturer even if the capital goods are acquired by him on lease, hire purchase or loan agreement, from a financing company.
The CENVAT credit in respect of capital goods shall not be allowed if the manufacturer claims depreciation on that part of the value of such capital goods that represents the amount of duty on such capital goods.
more info:
https://www.caclubindia.com/experts/how-to-calculate-cenvat-credit--718495.asp#.UTQyZjf7crc
The CENVAT credit in respect of the capital goods shall be allowed to a manufacturer even if the capital goods are acquired by him on lease, hire purchase or loan agreement, from a financing company.
The CENVAT credit in respect of capital goods shall not be allowed if the manufacturer claims depreciation on that part of the value of such capital goods that represents the amount of duty on such capital goods.
more info:
https://www.caclubindia.com/experts/how-to-calculate-cenvat-credit--718495.asp#.UTQyZjf7crc
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