Credit Taken on Machinery Part under Chapter 84 & 85, Central Excise

[MITSUI PRIME]

Dear Sir,

Good Afternoon

if we are buying Machinery Parts from local and Imported vendors under chapter heading 84 & 85 some goods we will going to capitalization under Fixed Assetss in such case we such case we can take credit if Machiner part debit to Repair & Maintance  and some capitalization.

Pl. provide your good suguation

 

Thanks & Regards

Arjun Sachdeva

Mitsui Prime

 

Posts / Replies

[PAWAN KUMAR]

If the subject parts is to be used in repair & maintenance of plant & machines, Cenvat credit would be admissible as per my view. The other machines which you have capitalized as assets, cenvat credit would also be admissible.