Dear all,
I want clarification about a firm goods cleared to defence under not.no 10/97 dt 1.3.97 (duty exemption) & goods removed for local other than defence. All excise records maintained seperately for both. Cenvat credit taken on raw material procured for local clearances & credit not taken for raw material procured for defence supplies. Now Capital goods cenvat credit allowed or not. But machinery brought for ment goods for local & Defence. Please suggest me.
Dear Ramesh Kumar,
You have observed following two basic things:
· All excise records maintained seperately for both.
· Cenvat credit taken on raw material procured for local clearances & credit not taken for raw material procured for defence supplies.
It is fine. Now your question is
· Now Capital goods cenvat credit allowed or not.
Cenvat credit is allowed.
CAclubindia
