TaxTMI 
TaxTMI 
Cenvat Credit on Capital Goods if depreciation is claimed under Income Tax
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....envat Credit on Capital Goods if depreciation is claimed under Income Tax<br> Query (Issue) Started By: - Laxmaiah Vanamamula Dated:- 19-6-2013 Last Reply Date:- 20-6-2013 Central Excise<br>Got 2 Repl....
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....ies<br>Central Excise<br>Dear sir, we have claimed cenvat credit on capital goods.By mistake we have provided depreciation also in Fy 2010-11 fr above and the same was deducted in the asset block in F....
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....Y 2011-12. the Audit officers are asking/insisting Pay back cenvat credit amount along with intest and penal under section 11A(6) of Central excise Act 1944 so, please suggest me, what we can do? T....
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....hanking you sir, V.Laxmaiah Reply By Pradeep Khatri: The Reply: Reverse the CENVAT credit, pay the statutory interest and penalty. Reply By dipsang vadhel: The Reply: Both Depriciation ( on amoun....
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....t of Taxes for which you have claimed CENVAT)and CENVAT credit can not be claimed at the same time. reverse the CENVATcredit and pay the statutory interest and penalty.<br> Discussion Forum - Knowledg....
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....e Sharing ....