Sachin
(Chartered Accountant)
(419 Points)
Replied 27 March 2009
| Originally posted by :rutambh | ||
| " | We are menufecturing unit, can we availe CENVAT credit paid Furness Oil used for Genrating electricity ,which used for menufectring purpose. | " |
Dear Rutambh,
It is not easy to say whether CENVAT Credit will be allowed or not only on the facts the furness oil used in the manufacture of electricity. please write me full detail about your problem. my email id is sachinagarwalcallb @ gmail.com
Arbind Aggarwal
(GST and Indirect Tax Adviser Trainer)
(2045 Points)
Replied 27 March 2009
Sachin Adsul
(HOD Excise dept)
(178 Points)
Replied 27 March 2009
Govind Inani
(Business)
(203 Points)
Replied 27 March 2009
Yes my friend you can avail cenvat credit of duty paid on furness oil. Practically all manufacturing units are aviling such credit
Ram kr.
(Buisness)
(883 Points)
Replied 27 March 2009
Yes you can take credit any inpurt which is used in manufacturing of final product except Diesel, Petrol and Sprit. You can also take Credit on Machinery Parts which Tarrif item is specified in Cenvat credit rule.
abhinaba
(service)
(37 Points)
Replied 28 March 2009
Generation of Eletricity does not come under perview of manufacturing activity, so question of getting cenvat credit on Furness Oil does not arise.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 29 March 2009
Input has been defined in Cenvat Credit Rule as,
(i) all goods, except light diesel oil, high speed diesel oil and motor spirit, commonly known as petrol, used in or in relation to the manufacture of final products whether directly or indirectly and whether contained in the final product or not and includes lubricating oils, greases, cutting oils, coolants, accessories of the final products cleared along with the final product, goods used as paint, or as packing material, or as fuel, or for generation of electricity or steam used in or in relation to manufacture of final products or for any other purpose, within the factory of production;
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