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Cenvat credit on machinery purchase

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 January 2012 dear sir
can we take cenvat credit on machinery purchase (becaz dept auditing people said you can utilise cenvat credit on machinery

thks in advance
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CA Nikhil Jhanwar

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CA Nikhil Jhanwar (Expert)
21 January 2012 Yes You can take cenvat credit of excise duty paid on purchase of machinery..........provided only 50% can be taken in year of receipt of machinery and balance 50% in subsequent financial year/s

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