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TMI BlogCenvat Credit and DepriciationX X X X Extracts X X X X X X X X Extracts X X X X ..... Cenvat Credit and Depriciation X X X X Extracts X X X X X X X X Extracts X X X X ..... ding capital goods cenvat and Depreciation calculation. For example I am buying one capital goods of ₹ 1000/- + ₹ 15 Excise Duty. Hence Can I avail cenvat credit of ₹ 7.5 in the cu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rrent year and balance in the next year as far as CCR,2004 concerns whereas I will claim depreciation only on ₹ 1000/- i.e. excluding duty amount. Is this allowable from the both IT and CCR Rule ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Reply By Naveed S: The Reply: Sir, Depreciation under I.Tax is availed on the capital goods value excluding the excise duty portion credit, on which capital goods cenvat credit is availed. Repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y By Mehul Pandya: The Reply: Thank you for your reply, It means I can take benefit of Cenvat Credit and Depreciation as per above mentioned example. Can you please suggest any notification,circul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar or case laws favoring the same. Reply By Rajesh Nathoo: The Reply: Dear Mehul , It is allowed both under IT and CCR Rules , Go through sub Rule 4 of Rule 6 of CCR Rules . Reply By Naveed S: The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply:
Yes Sir, you can avail the benefit of cenvat credit and depreciation as per your above mentioned example.
You may also refer to sub rule 4 of rule 4 of Cenvat Credit rules, 2004. X X X X Extracts X X X X X X X X Extracts X X X X ..... ion Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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