Understanding CENVAT Credit Eligibility: How Capital Goods Definitions in Excise and Companies Acts Impact Tax and Credit.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CENVAT credit - capital goods - The definition of capital goods in the Companies Act would determine which goods can be capitalized. The definition of capital goods in the Central Excise Act would determine the availability of credit on the goods.....