purchase of capital goods

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kgbabu (Querist)
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27 June 2008 I purchase capital goods.
that invoice have excies duty and vat.
can i avail cenvat credit both excies duty and vat?
if it is yes means ,tell me how?
if it is no means , tell me how?

please clarify the above query.

Shekar

Shekar (Expert)
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27 June 2008 Cenvat credit(EXCISE DUTY) on purchase of capital goods can be claimed only to extent of 50% in the year of purchase & balnce 50% in next year..

VAT input credit on capital goods can be claimed only if those goods are used for manufacturing process/activity..

Amit Bajaj

Amit Bajaj (Expert)
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27 June 2008 Agree with Shekar

CA Anand Sarda

CA Anand Sarda (Expert)
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30 June 2008 vat input credit cannot be used as cenvat credit

kgbabu

kgbabu (Querist)
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04 July 2008 i purchase capital goods
value 10000
Excies 14% 1400
Vat@ 4% 400
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11800
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How much ? i will treated as assets
Whole Amount (or) With out Excies duty and vat ( why i ask this question means,we will avail cenvat and Vat input credit)

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