Input credit on capital goods

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GSTP Hari Dhayalan Konar (Querist)
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04 March 2013 Dear Experts,
My client has bought capital goods (ceiling machine) on this month. My Q is whether they can claim 50% input credit or 100% input credit? please clarify. Please let me know some more details if wants.

CA. PIYUSH GOEL

CA. PIYUSH GOEL (Expert)
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04 March 2013 dear haridhayalan...

as per cenvat credit rule in case of capital goods 50% of the cenvat credit is allowed in the year of purchase and 50% is allowed in the next year.

however in case of SSI concerns 100% cenvat is allowed in the year of purchase if the amount of removal of goods exceeds 1.5 crore.

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MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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04 March 2013 It differs from state to state. One also has to see whether the machine is a notified one in that state.....mjk

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