Depreciation on duties & taxes

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Ramkrishna

Ramkrishna (Querist)
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01 June 2011 excise duty value of capital goods engaged in mfr. of exempted service wholey can be depreciated?

Vivek Mehta (CA, DISA,CS, MBA)

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
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01 June 2011 Yes the value of Excise duty paid on capital goods can be depreciated..

Vivek Mehta (CA, DISA,CS, MBA)

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
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01 June 2011 There are two options available for the treatment of the Duty paid...either to claim CENVAT or to Claim depreciation...since in the given case the option of claiming CEVAT is not availabe so the only option left is to claim depreciation and there is no bar on claiming depreciation for the duty paid in respect of capital goods where such capital goods are used for manufacturing exempted goods

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