cenvat credt on jcb vehicle

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mahender (Querist)
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06 February 2009 hi friends i am working in iron & steel co.i have one doubt that cenvat credt for jcb proclainer it taken or not . it is mainly used in our plant. pls clarify this matter.

thanking you.
mahender.
my email.id. manilalitha25@yahoo.co.in

nilesh kshirsagar

nilesh kshirsagar (Expert)
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06 February 2009 if you are using it to transfer the raw material from one place to another place in your factory and without it you cannot transfer the material then you can take the credit of it. it will be treated as capital assets and can take 50% credit in present year and balance 50% in next year.

Nilesh Ksagar

K- sagar Management consultant