Ajayshah (Sr. Executive Finanace & accounts) (27 Points)
24 December 2011Dear all,
Any one can guide on belowe quarries.
In Railway wagon companies, we had make the Rail track with use of Cement sleeper and Iron Patta, can i avail the VAT and Cenvat credit of Sleeper .
Reply.
Ajay Shah
CA Prabhat Gupta
(Manager (Indirect Taxes))
(821 Points)
Replied 26 December 2011
Cement sleeper and Iron Patta being used as inputs for manufacture of final products, CENVAT Credit would be available. Provided, you have not availed benefit of any exemption notification non availability of CENVAT Credit is a condition.
Credit of VAT on inputs will also be available, depending upon the VAT Act of the state where the sale has taken place.
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