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Cenvat Credit

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(Querist)
16 March 2009 If Cenvet CRedit is taken on an Item under Capital goods head..Is it necessary that the said item should also be treated as Capital goods in Accounts despite the fact that the said is an Stock item & not a Fixed Assets.
Plse clarify...
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
16 March 2009 Its a practialy treated as consumable stock & should be consumed, no need to capitalized that items.

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