Capital goods credit query
This query is : Resolved
28 August 2014
Dear Experts,
This is regarding Capital Goods credit, rule says that 50% credit to be taken in current financial year and remaining 50% to be taken next financial year.
By mistake if we missed out to take 50% credit of last year bill (i.e) 2013-14,
Can we eligible to take 100% credit in this year 2014-15. or same rule we have to follow (i.e) missed out 50% in 2014-15 and remaining 50% in 2015-16.
Pls. advice.
This is regarding Capital Goods credit, rule says that 50% credit to be taken in current financial year and remaining 50% to be taken next financial year.
By mistake if we missed out to take 50% credit of last year bill (i.e) 2013-14,
Can we eligible to take 100% credit in this year 2014-15. or same rule we have to follow (i.e) missed out 50% in 2014-15 and remaining 50% in 2015-16.
Pls. advice.
29 August 2014
Yes, you can take the cenvat credit of capital goods of 100%.
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