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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 take credit of 100% i.e as a input. My query is below 10000 value capital Goods Cenvat Credit we can take credit in our RG-23-A that is input credit Register ot RG-23-C that is Capital Goods Credit Register ? Regards Swapneswar Muduli - Reply By KAST .....

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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, though the maintenance of RG-23 A & C is dispensed with, many Company is still maintaining the records in their accounting systems like SAP, QAD application etc. This gives them a lot of advantages during Excise Audit. Thanks. - Reply By KASTURI .....

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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. According to me majority of the assessees are only maintaining a consolidated Cenvat Account except, few assessees who are still following the old procedure in some places.I suggest, in your case if, you are still following the old practice of main .....

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