Additional Duty on Cap.Goods

[Mridul Sethi]

Can we claim 100 % credit of AD/19/2006 on Capital Goods in same year or not...Mridul

[YAGAY andSUN]

Yes, you can avial the CENVAT credit of AD 100% on the Capital Goods in the same year.

AI Summary

CENVAT credit on capital goods can be availed as full credit in the year the goods are taken into use. Where additional duty is paid on capital goods, the taxpayer may claim full CENVAT credit of that additional duty against output tax liabilities in the same year the capital goods are taken into use, permitting availment in the year of acquisition rather than deferring to later periods.