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?
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..
04 July 2008
i purchase capital goods value 10000 Excies 14% 1400 Vat@ 4% 400 ------ 11800 ------- 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)
CAclubindia
