04 February 2010
hi, After the amendment made by the Finance Act 09, cenvat credit on cement, steel and others used for foundation etc shall not be allowed. Hence does it mean it was allowed earlier??
If a company had not take cenvat credit earlier but after this notification they claim they were eligible for cenvat, can they de-capitalise the cenvat amount from the books of accounts and claim cenvat for cement used in foundation which they had capitalised 2 years back??? Amount involved approx Rs 1 crore.
CAclubindia
