Cenvat
This query is : Resolved
31 October 2009
Hello Sir/ Madam,
I am Vel. K. i am working in a steel manufacturing industry. in our factory, we are using " INGOT MOULDS" for manufacturing of M S INGOTS. Were as its is consumbale to us. but excise officers says it should be taken into capital goods. but the problem is that "INGOT MOULD" is become scrap with in 2 to 3 months, and i taken it as (Scrap) rawmaterial, and most important one i cant repair it in my industry.
In this regard i need your advice to account and clarify with excise people.
I am Vel. K. i am working in a steel manufacturing industry. in our factory, we are using " INGOT MOULDS" for manufacturing of M S INGOTS. Were as its is consumbale to us. but excise officers says it should be taken into capital goods. but the problem is that "INGOT MOULD" is become scrap with in 2 to 3 months, and i taken it as (Scrap) rawmaterial, and most important one i cant repair it in my industry.
In this regard i need your advice to account and clarify with excise people.
31 October 2009
Dear its a Capital Goods Items. Use C.I.Mould its Repaireable. its use in verious size so can not use in 3 month. kindly capitalized it.
31 October 2009
First you see that your goods cover under definition of capital goods or not.
Capital goods measn under cenvat credit rules, 2004 "all goods falling under chapter 82,84,85,90,68.02,6802.1
First you see that your goods cover under definition of capital goods or not.
Capital goods measn under cenvat credit rules, 2004 "all goods falling under chapter 82,84,85,90,68.02,6802.1
31 October 2009
C.I.Moulds teriff heading is 8454 10 00
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