TaxTMI 
TaxTMI 
TaxTMI 
Cenvat Credit on Capital Goods
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....envat Credit on Capital Goods<br> Query (Issue) Started By: - Vivek anandhan Dated:- 22-7-2016 Last Reply Date:- 23-7-2016 Central Excise<br>Got 4 Replies<br>Central Excise<br>Dear Expert We are sett....
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....ing up a new manufacturing facility apart from our existing manufacturing industry. Any provision is there to avail 100% CENVAT credit on capital equipment (Plant & Machinery) on receipt basis. Reply....
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.... By MADAN RAHEJA: The Reply: Dear Sir,In terms of Rule 4(2)(a) it has to be fifty percent of duty paid on such goods in same financial year and balance fifty percent in next financial year.Thanks Re....
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....ply By Ganeshan Kalyani: The Reply: Sir, if you purchase capital goods on 31st March then you can take 50% on the same day and on 1st April you can take the balance 50%. Thus within two days you can ....
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....avail 100% Cenvat credit. You may plan according. Thanks. Reply By KASTURI SETHI: The Reply: In terms of proviso to Rule 4 (2a) of Cenvat Credit Rules, 2004, inserted vide Notification No.6/2010-CE(....
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....NT) dated 27.2.10, an SSI unit can take full credit of duty paid on capital goods in the same year. Full credit can also be taken if the capital goods are to be removed as such in the same financial y....
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....ear. Reply By Vivek anandhan: The Reply: Thanks to all<br> Discussion Forum - Knowledge Sharing ....