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Cenvat Credits on Plates used in Manufacturing of Capital Goods

Central Excise - Started By: - Mehul Pandya - Dated:- 19-2-2016 Last Replied Date:- 23-2-2016 - Dear Experts,We are manufacturers of Sugar. At the time of installation of machinery we have fabricated 2 storage tanks on our own and purchased Plates for the same. Can we take cenvat credit on this plates or not ? If yes we should take the same in A-II or C-II (50%). Pl. give your expert suggestions with relevant notification or circular or any other reference if possible.Thanking you - Reply By KAS .....

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year in which it was received in the factory and balance in the next financial year. The balance can credit can be taken immediately on 1st April or any time during the year. Thanks. - Reply By YAGAY AND SUN - The Reply = Dear Mehul, RG 23 C Part I and II are no more statutory records. Even, records maintained in computer system would also be valid to claim the CENVAT credit on plates used in Storage Tank since Storage Tanks are specifically included in definition of Central Excise vide para th .....

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ks. - Reply By KASTURI SETHI - The Reply = Thanks a lot to M/S. YAGAY and SUN for comprehensive reply. I also agree with Sh.Ganeshan Kalyani Sir.It becomes convenient for the assessee if RG23 C Pt. I and II are maintained. - Reply By CS SANJAY MALHOTRA - The Reply = Dear Experts, Reference is drawn to Explanation 2 to Rule 2K of CCR, which states that Inputs includes Inputs used in the manufacture of Capital Goods to be further used in the factory of manufacturer. Storage Tank is already covered .....

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01.03.2011 vide Notification No. 03/2011-NT dated 01.03.2011 was revised. Since I have not been part of earlier debate of experts on this subject, but would like to add that the benefit has been availed even at present by Industries treating the same as Input under Rule 2(K)(i) : all goods used in the factory by the manufacturer of final product.. It has been taken up with department that the Input does not specifically mean Input meant for manufacture of FG, same can be for CG also which has b .....

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ast para of your reply which makes it very clear that if credit is eligible then may it be taken as input or capital department will not reject the claims. Thanks. - Reply By CS SANJAY MALHOTRA - The Reply = Respected Sh. Kalyani ji, We all agree that CENVAT is admissible, only contention is eligibility as an Input or Capital Goods . Have taken into account the aspect of manufacture of Storage Tank while sharing the opinion. Until and unless storage Tank comes into existence, Plates can't be .....

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h query enriches the thought process. - Reply By KASTURI SETHI - The Reply = SH.CS SANJAY MALHOTRA JI, Rightly understood and rightly interpreted. Agreed. I would like to term this reply as an icing on the cake i.e. your reply dated 21.2.16. It means one should not miss even a single word of definition or provisions of any Section or Rule for the sake of best performance on the part of experts as well as in the interest of querists. - Reply By Ganeshan Kalyani - The Reply = Thanks for sharing yo .....

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