Dear Sir,
Please any one solve this problem and reply me urgenty Plz plz plz ........
Raw material 500000
Lubricant Oil 50000
Diesel 150000
Quality Testing machin 190000
Pollution control 80000
Packing material 150000
Prossing Material 160000
Office equipment 120000
The excise duty is 16% calculate CENVAT CREDIT available ?
Dear Vijay,
If you are a manufacturer, you will get Cenvat Credit on all above items except Diesel & Office equipment.
OK SIR ..... Thank you
Dear Vijay,
Quality Testing machine and Pollution control equipment come under Capital Goods.
So you will get only 50% CENVAT Credit in the current year. Balance 50% credit will be available in the next year.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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