Cenvat credit eligibility on plant & machinery
This query is : Resolved
12 July 2012
Hi all
Can any one provide me information relating to cenvat credit eligibility on purchase of plant and machinery for the manufacturers , whether it is 50 % or 100 % for the financial year 2011-12 .
If it is changed to full credit please provide the reference to the relevant sec or rule.
Can any one provide me information relating to cenvat credit eligibility on purchase of plant and machinery for the manufacturers , whether it is 50 % or 100 % for the financial year 2011-12 .
If it is changed to full credit please provide the reference to the relevant sec or rule.
12 July 2012
It is 50% in the one financial year, and balance in next year. No change. Please note that you should not claim depreciation benefit on the excise duty value under income tax act.
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