purchase of capital goods
This query is : Resolved
27 June 2008
I purchase capital goods.
that invoice have excies duty and vat.
can i avail cenvat credit both excies duty and vat?
if it is yes means ,tell me how?
if it is no means , tell me how?
please clarify the above query.
that invoice have excies duty and vat.
can i avail cenvat credit both excies duty and vat?
if it is yes means ,tell me how?
if it is no means , tell me how?
please clarify the above query.
27 June 2008
Cenvat credit(EXCISE DUTY) on purchase of capital goods can be claimed only to extent of 50% in the year of purchase & balnce 50% in next year..
VAT input credit on capital goods can be claimed only if those goods are used for manufacturing process/activity..
VAT input credit on capital goods can be claimed only if those goods are used for manufacturing process/activity..
Amit Bajaj
(Expert)
27 June 2008
Agree with Shekar
CA Anand Sarda
(Expert)
30 June 2008
vat input credit cannot be used as cenvat credit
04 July 2008
i purchase capital goods
value 10000
Excies 14% 1400
Vat@ 4% 400
------
11800
-------
How much ? i will treated as assets
Whole Amount (or) With out Excies duty and vat ( why i ask this question means,we will avail cenvat and Vat input credit)
value 10000
Excies 14% 1400
Vat@ 4% 400
------
11800
-------
How much ? i will treated as assets
Whole Amount (or) With out Excies duty and vat ( why i ask this question means,we will avail cenvat and Vat input credit)
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