Excise duty paid on capital goods. The bill raised on 30/06/2014. The capital goods are received in the factory on 01/07/2014. Which quarter to take clean at credit of 50 percent. Also if C form is to be issued, which quarter will it fall into?
Menu
Excise on capital goods
Replies (1)
Please confirm the correct date of receiving the capital goods at your factory gate. because today is 19/06/2014.
Still you can eligible to take cenvat credit of 50% in financial year. remining 50% next Subsequent financial year.
Please refer the 4(2)(a) of Cenvat Credit Rule 2004
4 (2) (a) The CENVAT credit in respect of capital goods received in a factory or in the premises of the provider of output service at any point of time in a given financial year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year:
Recent Threads
- About CMP -08
- RCM List on GST
- Resignation of Previous Auditor
- Summary of GST Notification 18/2025 (Effective 1 N
- Heard & Seen Around – Your Daily Economi
- ITC restriction for Food manufacturing units
- Consortium Partnership: GST and TDS query
- Luxury premium car - Lease or Loan
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
Related Threads
CAclubindia
