Depreciation on duties & taxes
This query is : Resolved
01 June 2011
excise duty value of capital goods engaged in mfr. of exempted service wholey can be depreciated?
01 June 2011
Yes the value of Excise duty paid on capital goods can be depreciated..
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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