Cenvat.

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vinod (Querist)
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25 July 2009 Dear Sir,

Pl.send me information about Cenvat Credit of Capitalized items.

can i take 100% cenvat credit on capital items ?

Regards,

Vinod.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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25 July 2009 You can take 100% Cenvat on Capital Goods, but in two instalments. Upto 50% in the year of receipt and balance in subsequent years.

A word of Caution:-

Capital Items as per normal accounting principles and Capital Goods as per the Cenvat Credit Rules are different.