Input on machinery purchased
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 September 2015
My Friend is a manufacture of Note books on which he is paying Excise Duty @ 2%. He is now purchasing a machinery on which he will have to pay ED @ 12.5%. Can he take input (50% this year & 50% next year) on the Duty paid on Fixed asset.?
09 September 2015
The cenvat credit cannot be allowed for duty payment at the rate of 2%.
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