purchase price of machine is 40lacs.It include excise duty of 2lacs against which CENVAT credit is available.
will that 2lacs included in cost of machine?
Menu
CENVAT credit
Replies (1)
It's not included in cost of machine if you avail CENVAT credit of Rs.2. Lakh
So, if availed credit...Cost of machine= 38 lakh
or if not availed than its 40 lakh.
So, if availed credit...Cost of machine= 38 lakh
or if not availed than its 40 lakh.
Recent Topics :
- [NO COURSE/NO FEES] A Senior Finance Manager’
- [NO COURSE/NO FEES] A Senior Finance Manager’
- On which amount 200% penalty under section 270A is
- RECEIVED INTIMATION U/S 399 FOR TDS PAYMENT ON PRO
- How do CA firms track SEBI/AMFI circulars and dead
- Jurisdictional validity of Sec 148 notice after fa
- Taxable Income or Not
- GST Input Tax Credit (ITC) on Camera Purchase &
- What makes CA Himanshu Singla different from other
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
Related Topics :
CAclubindia
