Anand Sharma (Service) (52 Points)
30 December 2008Sir,
X company purchase Diesel for use of Generator whenever the power cut or low power supply by electricity board for production of excisable goods. My Question is that wether is it any facility to get Cenvat Credit on Diesel purchase for the production of exciseable goods. if the dealer or distributor ready to give excise incvoice. please give me the section or rules and notification if any as per cenvat credit rules.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 30 December 2008
Cenvat credit can be taken on inputs. From the definition of inputs Light Diesel Oil (LDO), High speed diesel oil, Motor spirit (petrol) is specifically excluded under Rule 2(k) of the Cenvat Credit Rules.
Hence on HSD cenvat credit is not available.
Ramniwas Yadav
(service)
(44 Points)
Replied 30 December 2008
no cenvat credit not available on disel and petrol. see input not elegiable for cenvat credit in cenvat credit rules.
Jitender
(Chartered Accountant)
(8724 Points)
Replied 30 December 2008
as above rightly said that no credit is available.
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