Utilisation of cenvat credit on brown field project
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2015
Sir,
We have existing cement plant since 2008 onwards. we have availed and utilise the Centvat credit aganist clearance of our final product. Now, our plant going to expanding the production capacity . so, we have started Brown field project, at our same premises. We are availing cenvat credit on new machinaries and spares, so, these cenvat credit of new plant can utilise to duty payment of existing plant before start the production of new plant?
We have existing cement plant since 2008 onwards. we have availed and utilise the Centvat credit aganist clearance of our final product. Now, our plant going to expanding the production capacity . so, we have started Brown field project, at our same premises. We are availing cenvat credit on new machinaries and spares, so, these cenvat credit of new plant can utilise to duty payment of existing plant before start the production of new plant?
14 September 2015
Yes, you can take the cenvat credit on capital goods 50% current year and 50% next year. The SSI unit can avail the 100% cenvat credit on capital goods.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Rent lease agreement
- Merchant Export Accounting
- Internship/Academic shown in Salary Pay Slip of a Doctor
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
