If company purchased sheet (Steel sheet) for use as a roof. can we take cenvat credit on Excise paid??
2 Replies
Harendra Kumar
(Tax Advisor )
(1326 Points)
Replied 18 April 2016
May be hope or maybe not. Such condition depends on uses of material as input or Capital Input. Mostly case does not allowed the Input as Iron steel for their capitalization only for making the Shad or premises of factory which constructed.
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 19 April 2016
No. The present Cenvat Credit Rules do not allow inputs used in construction as credit. The duty on capital goods used could be available: hoists , crane, panel board, lift .... used in factory. It maybe ideal that these capital goods are separately procured by the cusomter rather than the contractor.
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