How to take cenvat credit on capital good

652 views 3 replies

Dear All expert,

We have manufacturing division in Delhir egisterd in excise. we are doing only labeling packing of raw material of motor vehicle part .chapter  heading in excise  87089900  ,We have purchase Laser Marking Machine one piece  form Ahmedabad  invoice bill dated 17.01.2013.bill detail as below :-

Amount =                   11,12,500 /-

Excise Duty 12%=      1,33,500 /-

Edu.Cess 2% =              2670 /-

S.H.E.D           =               1335 /-

CST                  =            25000 /-

Total Value     =  1275005 /-

Please explain how this capital good will be treated in excise?

how we will take cenvat credit on this capital good?

Please help

Thanks and Regards

Amit Singh

Replies (3)

You can use erlier prescribed RG23C Part-II register for showing credit entries. If your  turnover for the last year was below Rs. 4 Crores , you can take credit 100% of the excise duty paid on the Capital Goods, otherwise a credit upto 50% of the duty paid can be taken.

 

Raksh*t Verma Advocate

9810525780

If your turnoveof the previous year is below Rs.4 crores, you can avail 100% credit of the excise duty paid on the capital goods.

Raksh*t Verma advocate

9810525780

Remaining 50% credit shall be taken in any subsequent financial year...

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