11 November 2009
Dear Sir, whether CENVAT Credit on capital goods should compulsorily taken? Suppose, an assessee capitalise the Input tax portion and claim depreciation on that means, it is a violation?
11 November 2009
CENVAT Credit is not mendetory. CENVAT Avoid the cascading effect of duty. if you do'nt want to avail cenvat credit then input tax include in cost & you claim depreciation.
CAclubindia
