Home List
← Previous	Next →

Below 10000 of Capital Goods treated as input

Central Excise - Started By: - Swapneswar muduli - Dated:- 27-3-2016 Last Replied Date:- 6-5-2016 - Dear Sir, According to 2016-budget cenvat credit Rule-2004 has been amended and according to that below amount of 10000 value of capital Goods we can .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

URI SETHI - The Reply = You may take credit in RG 23 C. Definition of capital goods has not been changed. The benefit is that you have not to take credit in piece meal. You r not to wait for another year for taking whole credit - Reply By Rajagopalan .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ly = It is a matter of common knowledge that RG 23 C & A are not statutory records but the assesses are maintaining the same for their convenience. Otherwise the essence of both replies is the same. - Reply By Ganeshan Kalyani - The Reply = Sir, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

SETHI - The Reply = Sh.Ganeshan Kalyani Ji, Yes, Sir. In Chandigarh Zone, 90% manufacturers are maintaining these records with these columns either on computers or manually. These registers are still being sold as there is demand. Most of the assesse .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

accountal. - Reply By surya narayana - The Reply = Dear Swapneswar,As already stated there is no such mandatory requirement to maintain RG23-A and C seperately except to maintain a consolidated Cenvat Credit Account which is also not a statutory one .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

taining RG 23-A and C, you can continue the same and there is no issue .As far as taking credit is concerned, I suggest you to take the same in RG23-A since, the Rule itself is clear that credit on capital goods upto the Value of ₹ 10000/- per .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

You have mentioned below ₹ 10,000/- value Capital Goods . Budget 2016-17 mentions of ₹ 10,000/- per piece as value of capital goods (for Input Tax Credit Treatment).Hope you would find difference in between two for sake of better clarity .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

oned below is random example, which all experts are aware of :For e.g. Bearings purchased 2 Nos costing ₹ 9,000/- each in terms of total Capital Godos cost works out to ₹ 18,000/-. but it should not be taken by querist as though the value .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X