Excise Credit On Capital Goods..
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2011
How to avail the Credit of Excise Duty Paid on goods which falls under the defination of Capital Goods as per Rule 2. Though the same are not Capital Goods for the manufacturer. E.g Goods falling under chapter 82 is Capital Goods as per Rule 2 but the manufacturer is using it as other consumable. Do he has take credit of duty considering same as Capital Goods or he can take credit considering as Raw Material or Other Consumables for further production.
14 July 2011
the restriction of capital goods is only for specified goods, so that the assesee does not take input credit of goods other than specified in capital goods
for cenvat credit as input whole CETA is open including the definition of capital goods, so there is no bar to use the items defined in capital goods as inputs and avail cenvat credit
for cenvat credit as input whole CETA is open including the definition of capital goods, so there is no bar to use the items defined in capital goods as inputs and avail cenvat credit
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