I had a doubt as regards claming of cenvat credit on capital goods. In case of company engaged in manufacture of Sponge Iron, the capital goods purchased for erection of sponge iron plant falls under various chapter headings including 37,73,28, etc. Can I claim cenvat credit on the same? If yes, what is the logic for that since none of said goods fall under chapter 82,84,90 or 68.
1. Is that all those goods are brought at site and assembled there so as to bring a plant into existence which is nothing but Integrally connected machines. Does Sponge Iron Plant as such fall under Chapter 82 so that I can claim benefit of notification no 67/95 since I have used all the goods as inputs in the manufacture of sponge iron plant?
2. Or IS that I can claim cenvat only on those goods which have HSN classification 82,84,85,68, etc as included in definition of capital goods and cannot claim on other goods which though are part of plant but have tariiff classification other than those specified in definition.
3. or IS that all such goods are parts, components and tools?
3.
CAclubindia
