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
Debate on Cenvat Credit Rule-2004: Recording 100% Credit for Capital Goods Below 10,000 in RG-23-A or RG-23-C? A forum discussion revolves around the treatment of capital goods valued below 10,000 under the amended Cenvat Credit Rule-2004, which allows for 100% credit as input. Participants debate whether to record this credit in RG-23-A (input credit register) or RG-23-C (capital goods credit register). It is noted that maintaining these registers is not mandatory, but many companies still do for convenience during audits. There is also clarification that the rule applies per piece of capital goods. A query about billing for pipes per meter raises further questions about credit eligibility. (AI Summary)
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