Cenvat.
This query is : Resolved
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.
Pl.send me information about Cenvat Credit of Capitalized items.
can i take 100% cenvat credit on capital items ?
Regards,
Vinod.
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.
A word of Caution:-
Capital Items as per normal accounting principles and Capital Goods as per the Cenvat Credit Rules are different.
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