Treatment of CENVAT credit in cost of fixed assets
This query is : Resolved
CA. Amit G. Chandani
(Querist)
21 July 2009
How does CENVAT credit on capital goods is treated in value of assets i.e
1. Full 100% credit is deducted in first year itself, OR
2. Taken proportionately in two years @ 50% each year?
1. Full 100% credit is deducted in first year itself, OR
2. Taken proportionately in two years @ 50% each year?
Shyam Lal Naik
(Expert)
22 July 2009
The value of asset will be exclusive of Cenvat.
Option 1 is correct.
Option 1 is correct.
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