Journal Entry

Harsha (Chartered Accountant CS (Final))   (227 Points)

25 September 2010  

What is the Journal Entry to be passed for availing CENVAT Credit on Capital goods

 

Value of Machinary   500000

ED charged 50000

CENVAT available for first year (50%) 25000

Credit avaiable for the second year (25000).

Please clarify