Cenvat for admission fee paid to stock exchange


30 October 2012  

Dear Sir,

As a Stock Broker our company avail new membership in MCX-SX in this regards we pay admission fee of Rs.10,00,000+ ST 123600 = Rs. 1123600, we capitalize the above payment in intangible asset in future we deprecate the above asset.

My question is.

1. Can we take the cenvat for above-mentioned amount (Rs.123600) 100% in current FY.