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input tax credit on entry tax for capital items

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 November 2010 May please clarify whether input tax credit on entry tax paid on capital item is available.
A new project having 3 year period for its completion after that production will started depositing entry tax , how credit will be adjusted as the sale will started after three years.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
07 November 2010 no input credit will be available for entry tax. it is applicable only on stock items.
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