cenvat credit on refractory material purchase

This query is : Resolved 

06 February 2011 plz reply
refractory material is under definition of capital goods under excise
if such material is consumable in nature then
how much we can claim cenvat credit 50% or 100% ??
treatmant in accounts either capitalise or revenue ???

14 February 2011 In your account books, it can be capital of revenue as per accounting principle. But for Cenvat Taking purpose, you have to take 50% credit this year and rest next year.
The definition of capital goods under Cenvat Credit Rules is not relevant for accounting purposes.



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