Dear Experts
Please explain me the below mentioned condtion to claim cenvat credit on capital goods with exmple of value.
Your valuable reply highly appriciated.
(D) Conditions for availment of credit on capital goods. CENVAT Credit Rules also provide certain conditions for availment of credit on capital goods. These are:
(i) The CENVAT Credit in respect of capital goods shall not be allowed on that part of the value of capital goods, which represents the amount of duty on such capital goods which the manufacturer claims as depreciation under section 32 of the Income-tax Act.
Please explain me.
Regards
Kumar
CAclubindia
