TMI BlogCENVAT CREDIT ON CAPITAL GOODS -X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, We are manufacturer of Castings falling under chapter 73 of Central Excise Tariff Act 1985 . Recently their is change in definition of Input. i.e. Input includes capital goods having value less than ₹ 10000/- Per Pc. Here wording is Per Piece. But some of capital goods we are getting on per Kgs. basis. For example Refractory material falling under chapter 38160000 is get ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting to us on per Kg. basis. We have one purchase invoice, total Value of refractory material including Tax is ₹ 761940/- and total Kg. is 8000. Please confirm where we can take credit of Refractory material. I.e. In Input or Capital goods. - Reply By KASTURI SETHI - The Reply = Dear Sh.Sanjeev Jadhav Ji, In such a situation, better option is to ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ke credit as Capital Goods. You will be in a comfort zone for all purposes i.e. accounting in books of accounts, audit purpose. - Reply By Ganeshan Kalyani - The Reply = Sir, the amount is more than 10 thousand in your query. so it should be taken as capital goods. 50% of credit is eligible in the year of purchase and balance in next year i.e. on 01.04.2017 you can take the credit. - Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... KASTURI SETHI - The Reply = Sh.Sanjeev Jadhav Ji, Rightly explained by Sh.Ganeshan Kalyani, Sir and hence agreed with his views along with further clarification. - Reply By sanjeev jadhav - The Reply = Dear Sirs, Thanks you for your suggestions. - CENVAT CREDIT ON CAPITAL GOODS - - Query Started By: - sanjeev jadhav Dated:- 13-5-2016 Central Excise - Got 4 Repli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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