Capital Goods inward entry

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....apital Goods inward entry<br> Query (Issue) Started By: - Chandresh Dobariya Dated:- 10-9-2011 Last Reply Date:- 14-9-2011 Central Excise<br>Got 4 Replies<br>Central Excise<br>we have purchase an electric motor for machine from the dealer the invoice is excise passon. entry of this invoice? in which register? What About the cenvat ? Reply By Anupam Tiwari: The Reply: Statutory records (RG23A Pt....

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....I/II, RG23C PtI/II) have been dispensed with. This does no mean that maintanenace of records are not required at all. The entry of goods received in factory may be done in private records maintained for the purpose. Dept. now relies on private records, the intimation of which is required to be submitted as per rule 16 of C.Ex Rules'02. Cenvat credit on capital goods may be availed in two equal ins....

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....tallments in consecutive financial years subject to condition that the same is used in or in relation to manufacture of final products and deprecation of duty portion has not been claimed. Reply By NEERAJ KUMAR, RANCHI: The Reply: I also agree with Mr Tiwari. Reply By pradeep khatri: The Reply: Such transaction must be recored in private records and the intimation of private record must be sub....

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....mitted to the concerned authorities. CENVAT credit is available as per the amended definition of CENVAT credit Rules, 2004. Reply By Himanshu Mehta: The Reply: Dear Sir, First you take qty. in 23-C-I Capital Goods Register & Duty amount - 50% credit taken in 23-C-II Register. if you have any other problem pl. mail [email protected] thanks...<br> Discussion Forum - Knowledge Sharing ....