Credit on capital goods
This query is : Resolved
07 November 2012
Dear Expert,
we are mfg. the exempted and non-exempted products, so can we take the full credit on machinery (50% first year and 50% second year)
Machinery(Capital goods) is use for both products,
Please send the circular or case law if any.
we are mfg. the exempted and non-exempted products, so can we take the full credit on machinery (50% first year and 50% second year)
Machinery(Capital goods) is use for both products,
Please send the circular or case law if any.
07 November 2012
You can take full credit since Rule 6 does not apply. (Cenvat credit of duty on capital goods is not allowable only when it is exclusively used for manufacture of final exempted products rule 6(4))
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