Credit on capital goods.
This query is : Resolved
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
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/
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