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Excise duty credit

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(Querist)
03 May 2012 whether excise duty credit should be taken 50% In first year & 50% in next year for Fiber Disc under tarrif heading 6805 or entire credit should be taken in first year
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Mihir Doshi

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Mihir Doshi (Expert)
03 May 2012 Dear Nirali,

You are right in case of Capital Goods, you can claim 50% of credit during the 1st year and remaining 50% in any year after 1st year.

Thanks
Mihir Doshi

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