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TMI BlogCenvat Credit on spare parts ?X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, We have a few machines in our factory. Whenever there is some breakdown we procure spare parts for the same. My query is : is the cenvat credit of the spare to be treated as capital goods credit and taken 50/50 or can I simply take 100% credit ? - Reply By JAMES PG - The Reply = Cenvat credit on Capital goods including it spares, accessories , components etc can be taken on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly to the extent of 50 % in the financial year in which it is received - Reply By Pradeep Khatri - The Reply = According to the definition of the Capital Goods, under CENVAT credit Rules, 2004 as amended time to time, CENVAT Credit on Spares, Components can be availed even if these spares/components do not fall under the same tariff heading as of the capital goods. As enumerated above by Mr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... James, CENVAT credit on such spare parts/components, can be availed to the extent of 50% in the first financial year and the remaining 50% will be availed in the next financial year( but after installation of spare parts/components. - Reply By Ashok Dhiman - The Reply = Cenvat credit under Cenvat credit Rules 2004 is only possible if it is amount to manufacturer that is also only to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he extent of 50 in first year and balance subsequent F.Y Ashok - Cenvat Credit on spare parts ? - Query Started By: - Ajay shah Dated:- 20-12-2012 Central Excise - Got 3 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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