Credit on capital goods.
This query is : Resolved
RAJENDRA ATMARAM AHIRE
(Querist)
13 August 2009
Dear Sir,
We have purchased machinery (capital goods) before six month of excise registration. Can we avail & utilize 50% credit in current year? If yes, when will use balance 50 % amount ? what is procedure?
Please suggest me.
Thanks & Best Regards,
Rajendra Ahire
We have purchased machinery (capital goods) before six month of excise registration. Can we avail & utilize 50% credit in current year? If yes, when will use balance 50 % amount ? what is procedure?
Please suggest me.
Thanks & Best Regards,
Rajendra Ahire
Madhukar N Hiregange
(Expert)
17 August 2009
The Machinery is presumably used for manufacture of excisable products and therefore the 50% is available now and the balance is available in the subsequent year on 1st April. Utilisation also in each period/
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
- 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
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- 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
- MSME disclosure and disallowance
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- 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
