jitesh (Excise officer) (83 Points)
22 December 2010Dear All
1.Can we avail the credit of Weigh Scale vide HS No.84232000/8423000/84238190 .
2. We have purchase "Comvac Vaccum Machine (vaccum cleaner)" for the use to remove waste powder from scurbber,
We take the credit of that item.
Please give me suggestion & any notification or rule.
Thanks in advance.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 December 2010
unless u specify the principal nature of your activity in manufacture under excise, one cant give opition.
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 22 December 2010
as far as i got your question you shoudl be able to get the credit ..
Kashif
(Accountant-CA Finalist)
(105 Points)
Replied 22 December 2010
vishal kapoor
(a)
(66 Points)
Replied 22 December 2010
Dear JItesh,
Your Asset falling under the chapter 84 of CETA 1985. So the asset is a Capital Goods under Central Excise Act.
So you can claim maximum 50% of the Input Credit in the year of receipt of Capital Asset & balance in the next year. Please make sure that the asset is used in the Factory & not in the office, otherwise credit will not be allowed.
Plz correct if i m wrong
Thanks
Vishal
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 December 2010
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 December 2010
i asked your principal nature of activity, coz 3 type of scales, out of which two are uncomon,
vishal kapoor
(a)
(66 Points)
Replied 22 December 2010
@ Dear U S Sharma..
Plz elaborate your answer..Can Me Jitesh take Credit on these goods?
These goods are capital goods or not?
Thanks
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 December 2010
| Originally posted by : vishal kapoor | ||
 |
@ Dear U S Sharma.. Plz elaborate your answer..Can Me Jitesh take Credit on these goods? These goods are capital goods or not? Thanks |
 |
jitesh
(Excise officer)
(83 Points)
Replied 23 December 2010
Thanks to All.
The Weigh Scale is Readability -200g, & Capacity -2000 kg with platfrom size 800mm x 1200 mm
Material Descripttion is "IND 780 (P) -2000 (CL Tonner) Weigh Scale
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 23 December 2010
| Originally posted by : jitesh | ||
|
|
Thanks to All. The Weigh Scale is Readability -200g, & Capacity -2000 kg with platfrom size 800mm x 1200 mm Material Descriptttion is "IND 780 (P) -2000 (CL Tonner) Weigh Scale |
|
here i have not asked the weight scale desciption but the line of production where the weight scale is to be used. proper queries and solutions will avoid further misunderstandings.
vishal kapoor
(a)
(66 Points)
Replied 23 December 2010
Dear Mr U S Sharma,
I think if computer / air conditioner installment in the factory & process amounts to manufacture, then person can take the credit on those goods.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 23 December 2010
| Originally posted by : vishal kapoor | ||
|
|
Dear Mr U S Sharma, I think if computer / air conditioner installment in the factory & process amounts to manufacture, then person can take the credit on those goods. |
|
these items are in negetive list, and lots of arguments are still going on for such issues,
in a nutshell the assessee has to establish the requirement / utility of capital goods towards production of taxable goods or services, and have to establish also that without these capital goods the service or goods cant be produced.
CAclubindia
