TaxTMI 
TaxTMI 
STORAGE TANK CREDIT
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....TORAGE TANK CREDIT<br> Query (Issue) Started By: - SHARMA NARAYAN Dated:- 6-2-2017 Last Reply Date:- 15-2-2017 Central Excise<br>Got 4 Replies<br>Central Excise<br>Dear sir. we purchase various stora....
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....ge tank ALKALI MEASURING TANK- SMBS DOSING TANK ANTI SCALANT DOSING TANK IN CH HEADING 73090090 CAN WE TAKE CENVAT CREDIT IN INPUT OR CAPITAL GOODS Reply By Rajagopalan Ranganathan: The Reply: ....
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.... Sir, Rule 2 (a) (A) (vii) of cenvat credit rule 2004 defines 'storage tank' as capital goods. Therefore you are eligible to take credit of duty paid on storage tanks as capital goods. You ha....
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....ve to take 50% of duty paid on such tanks in the first year in which they are procured and the remaining 50% can be taken during any of the following years. First 50% should be availed within one year....
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.... from the date of purchase invoice. Reply By YAGAY AND SUN: The Reply: Storage Tanks are well incorporated in the definition of Capital Goods and CENVAT credit on storage Tanks can be availed in two....
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.... equal instalment in first two of its procurement. Reply By KASTURI SETHI: The Reply: I support the views of both experts. Reply By Ganeshan Kalyani: The Reply: I am also of the same view as expre....
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....ssed by learned experts. Thanks..<br> Discussion Forum - Knowledge Sharing ....