Credit on capital goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2012
dear Sir my question is that suppose we removed capital goods as such in the same financial year , can we reverse credit taken on capital godds form credit taken on input goods.
25 February 2012
As per rule3(5) of cenvat credit rules when goods ( be it input or capital ) are removed as such the assessee is required to pay an amount equal to cenvat availed. In this respect firstly the credit which is lying in your books RG23A and RG23C shall be utilised first and then remaining if any shall be paid through a debit in PLA.
so answer to your query is yes you can adjust cenvat on inputs for reversing cenvat on capital goods in case of removal as such, as it is treated as fresh removal of goods from your factory.
so answer to your query is yes you can adjust cenvat on inputs for reversing cenvat on capital goods in case of removal as such, as it is treated as fresh removal of goods from your factory.
25 February 2012
yes.. there is no diff between credit on capital goods and input goods while utilizing for payment of excise (subject to availability as per rules)
03 April 2012
The expert has correctly answered I agree with him and no extra comment is required.
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
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Minimum tax payable to file Updated return
- Applicability of GST on Salary Reimbursement Component
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Dep. as per companies act
- Change Of Karta In Case of Death
- UDIN ISSUE
- TDS on purchase of under construction property from a reseller
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- 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
- How to pay remaining amount of TDS after due date?
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
Quick Links
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
CCI
Pro
CAclubindia
