Cenvat Credit to be availed on Carbide Inserts and End Mills
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2009
Are Carbide Inserts and End Mills to be treated as "Capital Goods" as per Chapter 82- Tools of the Tariff Act, and only 50% of the credit is to be availed in the year of purchase?
Or As these inserts are used and worn out within a year, due to continuous usage in Machining, it has to be treated at par with Consumables and full credit can be availed?
Please answer with details of the Act, Rules or Notifications.
Regards,
Sriram.
Or As these inserts are used and worn out within a year, due to continuous usage in Machining, it has to be treated at par with Consumables and full credit can be availed?
Please answer with details of the Act, Rules or Notifications.
Regards,
Sriram.
22 November 2009
Chapter 82 treat in capital goods so you are liable to avail 50% credit in this yr.
22 November 2009
yes, only 50 % in that year,not 100%.
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2009
Yes got the answer. Thanks for posting
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