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
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....
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- Cash balance limit and property purchases limit
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Journal entry of busniess expenses
- FCRA 6 E- Intimation
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
CAclubindia
