metal furniture purchased for storage of raw material and finished goods whether it is eligible for cenvat credit
Posts / Replies
Showing Replies 1 to 2 of 2 Records
IT IS SIMILAR TO STORAGE TANK. HENCE U CAN TAKE CENVAT CREDIT OF 50% IN THE YEAR OF RECEIPT AND BALANCE 50% IN THE SUBSEQUENT FINANCIAL YEAR
( CAPITAL GOODS AS PER DEFINITION )
Yes, the same are eligible for cenvat credit. If they are falling within the chapters specified in rule 2(1) in that case within the category of "Capital Goods" otherwise, within the category of "Inputs"