23 July 2009
Dear expert, I want to know whether Conveyor Belt (In cement Industry) is input or capital goods. Whether Cenvat Credit available at 100% for input or 50% for capital goods.
23 July 2009
For lifting of material , COnveyor belt and it's system is capital goods. Hence 50% credit is to be taken. In case of replacment of belt , it is revenue exp. , then 100% credit is taken.
CAclubindia
