TaxTMI 
TaxTMI 
Dear sir.
we purchase various storage tank
ALKALI MEASURING TANK-
SMBS DOSING TANK
ANTI SCALANT DOSING TANK
IN CH HEADING 73090090
CAN WE TAKE CENVAT CREDIT IN INPUT OR CAPITAL GOODS
STORAGE TANK CREDIT
06 Feb 2017 
4 Replies 
2807 Views Asked by
CENVAT credit for storage tanks recognised as capital goods; staged availing required with initial instalment within prescribed period.
Storage tanks are classified as capital goods under Rule 2(a)(A)(vii) of the CENVAT Credit Rules, 2004, enabling CENVAT credit of duty paid on such tanks. Credit must be availed in staged instalments: an initial instalment must be taken within the Rule specified period from the purchase invoice, with the remaining instalment(s) claimable in subsequent year(s). (AI Summary)
Storage tanks are classified as capital goods under Rule 2(a)(A)(vii) of the CENVAT Credit Rules, 2004, enabling CENVAT credit of duty paid on such tanks. Credit must be availed in staged instalments: an initial instalment must be taken within the Rule specified period from the purchase invoice, with the remaining instalment(s) claimable in subsequent year(s). (AI Summary)