Eligibility for cenvat credit, Central Excise

[madhavvan n]

metal furniture purchased for storage of raw material and finished goods whether it is eligible for cenvat credit

Posts / Replies

[GANAPATHY RAJENDRAN]

IT IS SIMILAR TO STORAGE TANK. HENCE U CAN TAKE CENVAT CREDIT OF 50% IN THE YEAR OF RECEIPT AND BALANCE 50% IN THE SUBSEQUENT FINANCIAL YEAR ( CAPITAL GOODS AS PER DEFINITION )

[Dinesh Gupta]

Yes, the same are eligible for cenvat credit. If they are falling within the chapters specified in rule 2(1) in that case within the category of "Capital Goods" otherwise, within the category of "Inputs"