Cenvat
This query is : Resolved
31 October 2009
Hello Sir/ Madam,
I am Vel. K. i am working in a steel manufacturing industry. in our factory, we are using " INGOT MOULDS" for manufacturing of M S INGOTS. Were as its is consumbale to us. but excise officers says it should be taken into capital goods. but the problem is that "INGOT MOULD" is become scrap with in 2 to 3 months, and i taken it as (Scrap) rawmaterial, and most important one i cant repair it in my industry.
In this regard i need your advice to account and clarify with excise people.
I am Vel. K. i am working in a steel manufacturing industry. in our factory, we are using " INGOT MOULDS" for manufacturing of M S INGOTS. Were as its is consumbale to us. but excise officers says it should be taken into capital goods. but the problem is that "INGOT MOULD" is become scrap with in 2 to 3 months, and i taken it as (Scrap) rawmaterial, and most important one i cant repair it in my industry.
In this regard i need your advice to account and clarify with excise people.
31 October 2009
Dear its a Capital Goods Items. Use C.I.Mould its Repaireable. its use in verious size so can not use in 3 month. kindly capitalized it.
31 October 2009
First you see that your goods cover under definition of capital goods or not.
Capital goods measn under cenvat credit rules, 2004 "all goods falling under chapter 82,84,85,90,68.02,6802.1
First you see that your goods cover under definition of capital goods or not.
Capital goods measn under cenvat credit rules, 2004 "all goods falling under chapter 82,84,85,90,68.02,6802.1
31 October 2009
C.I.Moulds teriff heading is 8454 10 00
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
