Cenvat credit
This query is : Resolved
23 December 2014
Dear Sir,
we have purchase machineries in our company shall we take cenvat credit on the same purchases against Excise duty payable.
we have purchase machineries in our company shall we take cenvat credit on the same purchases against Excise duty payable.
23 December 2014
Cenvat in capital goods is available as per conditions of cenvat credit rules i.e. 50% in year of purchase and 50% in subsequent year. Also the depreciation should not be claimed on cenvat credit taken.
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