capital goods cenvat debit while transfer v/s deprecaition
This query is : Resolved
03 August 2009
Pl. clarify to me , if a compnay tranfer it capital goods from one unit to another unit after it installation of 2.5 years . What will be entry made for debit cenvat amount ?
Initail capital goods value Rs 20000 and cenvat credit taken Rs 2000.
Initail capital goods value Rs 20000 and cenvat credit taken Rs 2000.
06 August 2009
2.5% per quarter = since 2.5 years = 10 quarters = 25% credit = rs. 500/- can be rateinaed and Rs. 1500/- to be reversed.
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