Eligibility for cenvat credit

[madhavvan n]

metal furniture purchased for storage of raw material and finished goods whether it is eligible for cenvat credit

[GANAPATHY RAJENDRAN]

IT IS SIMILAR TO STORAGE TANK. HENCE U CAN TAKE CENVAT CREDIT OF 50% IN THE YEAR OF RECEIPT AND BALANCE 50% IN THE SUBSEQUENT FINANCIAL YEAR ( CAPITAL GOODS AS PER DEFINITION )

[Surender Gupta]

Yes, the same are eligible for cenvat credit. If they are falling within the chapters specified in rule 2(1) in that case within the category of "Capital Goods" otherwise, within the category of "Inputs"

AI Summary

Cenvat credit eligibility for metal storage furniture allowed as capital goods or inputs with staggered adjustment where applicable.
Eligibility for Cenvat credit for metal storage furniture depends on classification: if the furniture falls within tariff chapters corresponding to Capital Goods, credit is to be adjusted under the capital goods timing mechanism with staged utilization across financial periods; otherwise the furniture is treated as Inputs and credit is available under normal input credit rules.