use of cenvat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2010
can we use the 100% cenvat credit on capital goods?
08 August 2010
yes you can use it 50 % in the same year
and balance in next year.
and balance in next year.
08 August 2010
you can also use 100% in the same year if
the said capital gooods is sold in the same year.
or if the said capital goods is destroyed in the same year and nothing could be realised from that assets
the said capital gooods is sold in the same year.
or if the said capital goods is destroyed in the same year and nothing could be realised from that assets
23 August 2010
agreed and continuing that balance 50 % credit will be allowed provided that capital goods are still in possession in such subsequent years.
this rule is not applicable on components,spares and accessories and refractory materials.
this rule is not applicable on components,spares and accessories and refractory materials.
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