07 July 2009
Dear all, As per Budget,2009 some amendments has been made in Cenvat Credit Rule,2004 one of that is: In Rule 2 Clause (k) in Explanation 2, after the words “factory of the manufacturer”, the following shall be inserted, namely:- “but shall not include cement, angles, channels, Centrally Twisted Deform bar(CTD) or Thermo Mechanically Treated bar(TMT) and other items used for construction of factory shed, building or laying of foundation or making of structures for support of capital goods”.
My Question is can I avail Cenvat Credit on Structural Steel for support of Capital Goods, purchased before 07/07/2009.
11 July 2009
one case law in 2008 was there...in that it was given that laying foundation for machinery cannot be said as directly or indirectly related to manfacture of product. in that case it was disallowed credit taken......so previously also court denied such things.....and if you claim then your assessing officer may use such case law and may deny ur claim.....you just pls refer to that case law which is given in 2008.....i didnt remember the name...sorry
CAclubindia
