Cenvat claim as capital or input

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Hi Expert, Can you please confirm me that the below item will be treated as input or capital for manufacturing unit. item -THK RPUF 50 MM PANEL PCGI , HS CODE - 39259010 These panels are helped Heat Control & Dust free in production floor.
Replies (3)

Mr. Manas,

The panels used in the manufacturing comapny for heat control & dust free can be capitalize as an Asset, while these panels increase the life span of machines working capacity by controlling dust in the factory.

the Input on such asset can be claimed as Capital input tax credit of 50% and remaining balance can be claimed in next year.

The capital goods have been defined in cenvat credit rules. Normal understanding would not help in credit. This wouldbe considered as an input on whcih 100% credit can be claimed on receipt. 

Credit under Capital goods can be taken when goods in question are components, parts or accessories of capital goods falling under HS code chapter 82,84,85 & 90 only. If not so, credit can be taken as inputs @ 100%

 

Raksh*t 

 

9810525780


CCI Pro

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