Cenvat cr. urgent
DEEPAK VARSHNEY (no) (122 Points)
06 February 2016DEEPAK VARSHNEY (no) (122 Points)
06 February 2016
AMBUJ SHARMA
(CHARTERED ACCOUNTANT)
(243 Points)
Replied 06 February 2016
Since you are a service provider you cannot claim Input of excise duty paid on purchase of Capital goods.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 06 February 2016
As I understand, there is no such restriction for availing cenvat credit on capital goods for service providers. What if capital goods are required for providing output service?
Refer Rule 4. Conditions for allowing CENVAT credit:
https://www.cbec.gov.in/htdocs-cbec/excise/cxrules/new-cenvat-rules
Ajay Chandramouli
(Article Assistant )
(334 Points)
Replied 06 February 2016
Dear Mr. Deepak
If the Genset is purchased for purpose of providing output taxable service then CENVAT can be availed and utilized to the extent of 50% in first half year and balance 50% in next year.
Note the capital good definiton is given in CENVAT Credit Rules 2004
Shubham Garg
(Article)
(32 Points)
Replied 07 February 2016
srikumar
(audit staff)
(1203 Points)
Replied 07 February 2016
Kapill 404
(Nooooooooooooooooooooooooooooooooooooooooo)
(28 Points)
Replied 07 February 2016
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 09 February 2016
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