Excise Credit On Capital Goods..
Querist : Anonymous
Querist : Anonymous
But i want one more cllarification -
"but if you will see as per rule its not capital goods".
But all the items falls under the definition of capital goods as per Rule 2 of Excise Rules.
So, we will take 50% Credit in this year & 50% in next year.
if capital goods are used and cleared in finish goods, it can not be taken as capital goods credit but it would be normal input credit.
Capital goods classification List is just to prevent the assessee to take cenvat credit other than the list, while under input credit of Taw Materials there is no such bar to take credit, it cover all such chapters which belong to capital goods also.
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