MAYUR BIYANI (Assistant Manager-Taxation & Accounts) (142 Points)
19 September 2015I have availed 100% Cenvat on consultancy fees paid to consultant used for CAPEX item. i have debited consultancy fees Paid to WIP-CAPEX and not in expenses. is CENVAt to be aviled 50% in current year & 50% in next year as pe CCR, 2004 or full 100% cenvat can be availed in current year. i have availed full 100%.
in the Invoice they have mentioned invoice realted to consultancy fees paid in execution of work only.
kindly guide for the same with any refrence case law if any.
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 21 September 2015
For only goods defined as captial goods 50% applies. For services in relation to capital goods - 100% credit as in case of any other input service.
MAYUR BIYANI
(Assistant Manager-Taxation & Accounts)
(142 Points)
Replied 01 October 2015
CAclubindia
