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Regarding CENVAT credit

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(Querist)
14 September 2010 Whether we can take CENVAT credit on Cements, Steels and other material which is used in Factory Building, Plant & Machinery.
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sudhakar ca cwa

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sudhakar ca cwa (Expert)
14 September 2010 yes we can
but only 50% this year and
remaining 50%- subsequent year.
in subsequent year we have to fullfil certain conditions like plant will exist with in the factory or with sub contractor etc.

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