Dear All,
Please tell me Can we avail Cerdit on fire fighting Equipments used in the plants for safety purpose. its urgent. if yes then what is the logic behind it?
Menu
CENVAT CREDIT
Replies (10)
If the Chapter heading of Fire Fighting is included in the definition of Capital Goods, given in the CENVAT credit Rules, 2004, you can very well avail CENVAT credit.
Yes you can avail cenvat credit on fire fighting equipment used in plant.
Logic :- In case of Aircondition used in plant cenvat credit is allowed. similar logic applies to above equipment. since it is in or in relation to production.
suppose if fire fighting equipment is not falling under the definition of Capital Goods, given in the CENVAT credit Rules, 2004, then whether we can avail credit on that
Meera
What did u mean by suppose
Meera
What did u mean by suppose
meera
There is no place of agar magar in Central Excise Rules,Did u understand......?
What do you mean by credit in CENVAT ?
yes offcourse it is a capital goods but only 50% in a year
if fire fighting equipment are capital goods then A/c to Rule 2 of CCR 50% credit can be availed in 1st year and bal can be taken in subsequent year provided they are in possession.
Dear mahesh
pl check the tarii heading on purchase invoice in which this is falling . only goods falling under 82,84,85 and 68.02,6801.and 90 will be eligible
Recent Threads
- What happens if a taxpayer forgets to file ITR but
- ITR 2 / Schedule FA / Income tax
- Best CA Office Management Software Tools for 2025
- GST ON ROYALTY APPLICABLE
- Income tax Regarding Rural Agriculture land
- Need Help & Clarification in ITR filing : ITR
- HOW TO ADD BANK ACCOUNT FOR A NON RESIDENT
- Gift to son for purchasing Commercial space
- Getting error in Date of filing of form 10IEA for
- GST rate on delivery charges
Related Threads
CAclubindia
