Cenvat credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2016
Sir,
I have a manufacturing unit and it's TO going to cross 150 laks now 130 laks. So, I have to register central excise now. 3 months back, I have purchased a machine costing 60 laks and paid duty also.
Here, can I get avail Cenvat credit on that machine (capital goods) after getting Excise registration number.
Kindly advice.
I have a manufacturing unit and it's TO going to cross 150 laks now 130 laks. So, I have to register central excise now. 3 months back, I have purchased a machine costing 60 laks and paid duty also.
Here, can I get avail Cenvat credit on that machine (capital goods) after getting Excise registration number.
Kindly advice.
14 October 2016
After 1.5 cr turnover you need to registered under central excise and start paying excise duty. You can take the 100% cenvat credit on capital goods purchase by you after payment of excise duty. If any doubt consult with any professional or visit my profile to contact with me.
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2016
Thank you sir,
We purchased machine on August 2016. But we now applied for excise registration. Hence, hereafter can we take cenvat credit on previously purchased machine ( Aug 2016). Is it possible sir?
We purchased machine on August 2016. But we now applied for excise registration. Hence, hereafter can we take cenvat credit on previously purchased machine ( Aug 2016). Is it possible sir?
14 October 2016
Yes, you can take the cenvat credit 100% if any doubt plz contact at 9818350318.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- ITC EXCESS CLAIM + RCM NOT PAID...BOTH FOR FY 2020-21......PAID IN FY 2024-25....EFFECT
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
