Credit on capital goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 May 2016
Dear Sir,
ours is an ssi unit availing cenvat credit and paying full duty on goods manufactured.
can you tell me,1) if i can avail 100 percent credit on capital goods ?
2) Are oil, packing material, inserts, toolings are capital goods or inputs?
Kindly give the feedback.
Thanking you,
Rajendra M Ijare
ours is an ssi unit availing cenvat credit and paying full duty on goods manufactured.
can you tell me,1) if i can avail 100 percent credit on capital goods ?
2) Are oil, packing material, inserts, toolings are capital goods or inputs?
Kindly give the feedback.
Thanking you,
Rajendra M Ijare
16 May 2016
in last year its change credit rule that ssi can take the capital goods cenvat full in first year. but its better to take 50-50% . and also under excise you have to take the defination of capital goods under cenvat credit rule. chapter 82, 84,85, 90 etc are capital goods chapter heading.
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