Credit available on inputs
This query is : Resolved
ANKIT SHANKAR
(Querist)
17 May 2011
Hi friends,
I have a query that one of my client is taking credit on inputs used in the R&D of products but company is not yet registered in Excise. Now they started sale from there stores premises which is away from company and also got registration in excise whether credit on inputs taken from last 2 years can be utilized on sale?
I have a query that one of my client is taking credit on inputs used in the R&D of products but company is not yet registered in Excise. Now they started sale from there stores premises which is away from company and also got registration in excise whether credit on inputs taken from last 2 years can be utilized on sale?
Madhukar N Hiregange
(Expert)
23 May 2011
The credits are not being allowed on R&D inputs upto 31.3.2011. However in the light of the amended cenvat credit rules it maybe available.
However the inputs in stock as on the date of registration and inputs contained in the finsihed products as on date of starting to pay the ED wouldbe available.
However the inputs in stock as on the date of registration and inputs contained in the finsihed products as on date of starting to pay the ED wouldbe available.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
