02 June 2010
DEAR CLGS WHAT METHOD TO DEFINE THAT A PARTICULAR CENVAT CREDIT IS TAKEN AS CAPITAL GOODS OR INPUTS. IS THAT IT DEPENDS ON CHAPTER HEADINGS OR OTHERWISE?
03 June 2010
Please see deifntion in cenvat credit rules. Capital goods under chapter 82,84,85 90 ++ some more Inputs all goods ( including capital goods ) other than HSD, ptrol + some others.
03 June 2010
OK But if a machinery items purchased covering chapter no. 68, should we enter into C-II or A-II. OR We enter into A-II and when a particular machine is fabricated or installed then we trf. to C-II. The excise auditor takes the differ view.
CAclubindia
