Hi
Our company purchased electronic weighing machine (capital good) for weighing finished goods. can i take excise input and Vat input for the same, if yes how much percentage for excise and Vat?.
Thanks in advance
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Excise input and vat input on electronic weighing machine
Replies (2)
If the company is non ssi then 50% excise input can be taken in current year & bal. 50% in any year after that
& vat input depends upon state vat law in delhi it is 3 years
Dear Sir
Please make assurance that such assets value with the value of ED is not to be dpreciated in books of Company. Assets Value excluding ED and DVAT is to be considered for depreciation.
Cenvat Credit can be availed on capital goods, but the credit should be taken in installments. 50% of the credit in the Financial year in which the goods are received and the remaining 50% in the next financial year or subsequent years. For Capital goods received in March, 50% credit can be taken in March and the balance 50% can be taken in April as they fall under two financial years.
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