purchase of capital goods

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kgbabu (Querist)

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)

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)

27 June 2008 Agree with Shekar

CA Anand Sarda

CA Anand Sarda (Expert)

30 June 2008 vat input credit cannot be used as cenvat credit

kgbabu

kgbabu (Querist)

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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