Excise on capital goods
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2012
one of my client having a business of cutting polishing and processing of granite marbles has a turnover below the limit as specified under excise laws.
he has purchased a machinery of Rs.20lakhs .
however he has registered himself under excise
can he claim the cenvat credit on prchase of the said capital goods ??
and will that cenvat credit be carried forward ??
pls help as soon as possible ..
thankig you in advance
he has purchased a machinery of Rs.20lakhs .
however he has registered himself under excise
can he claim the cenvat credit on prchase of the said capital goods ??
and will that cenvat credit be carried forward ??
pls help as soon as possible ..
thankig you in advance
CA Nikhil Jhanwar
(Expert)
20 February 2012
As such there is no restriction in taking credit of capital goods unlike in case of inputs and input services it will be utilised for payment of excise duty if used in manufacture of excisable goods....
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