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cenvat credit on oil

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 July 2010 dear friends,

can cenvat credit be availed on oil(consumable goods) as capital goods @50%.
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
26 July 2010 cenvat credit sis available on oil as normal purchase(consumable).
It is not capital goods
you can use 100% cenvat credit on the same year.

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