11 July 2009
M/s XYZ Ltd Purchased a Capital goods on 01/05/2008 and sold the same Capital Goods On 20/01/2009 (Same Financial Year). If the company avails only 15% of cenvat in the year of purchase, then wat abt balance 85% of Cenvat credit, can the company avails cenvat in the subsequent years, eventhough the capital goods is not in existences???
(or)
Can The Company Avail 100% cenvat Credit for the capital goods in the year of Purchase itself??
CAclubindia
