Dear Sir(s),
Please, clarify the canvat credit on capital goods (i.e. Storage tanks, fabricated tanks etc) which manufactured at plant location by contractors, referred capital goods to be manufactured by excisable m.s. plates, Welding rodes. How will be manage the all formalities ?
hello dear,
with respect to capital goods which are procured , 50% credit can be availed in the year or receipt and balance can be used in subsequent years. hope it will clear.
thanks
chirag
Shyam S Gupta and Company
New Delhi
CA Inter
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N N V Satish & Co.,
Hyderabad
CA Inter
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Malhotra Rajesh & Associates
New Delhi
B.Com
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CCI
Pro
CAclubindia
