rule 4(3) of ccr 2004 says that in respect of capital ods cenvat credit shall be allowed to the manufacturer even if the capital gods are acquired by him on lease or hire purchase or loan agreement..
can anybody throw light on the lease word..
does it mean that in case of operating lease if the lessor is taking excise component in rent , is it possible ? or it refers to only financial lease where sale billing is done !!!
CAclubindia
