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TMI BlogCenvat credit on input used to manufacture capital goodsX X X X Extracts X X X X X X X X Extracts X X X X ..... Is Cenvat credit permissible on input used to manufacture capital goods ? - Reply By Rajesh Nathoo - The Reply = Yes, provided the Capital Goods satisfy the definition of Capital Goods as defined under Cenvat Credit Rules. - Reply By VENKATESHAM MUTA - The Reply = I think 50% of the CENVAT will be utilised in the C.Y. and the remaining will b in next year. - Reply By CMA VENKATESHAM MUTA - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Reply = Sorry, my reply was wrong - Reply By PARTHASARATHY V - The Reply = When the machinery manufactured in a factory it will be qualified as Excisable goods and falling under specific tariff heading depending upon the name of the machine. You can take Input credit for the machines used, but you have to give declaration under Notification 65/97 for the goods manufactured in in-house an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d used for manufacture of subsequent final product and also the machine manufactured having the exemption benefits as per the notification referred above. It is better to give declaration / intimation under 67/97 you are proposed to mfg.enjoying the credit. - Reply By PARTHASARATHY V - The Reply = Please read the Captive Consumption Notificaiton No.as 67/95 inadvertently typed as 67/97 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sorry for the wrong citation. - Cenvat credit on input used to manufacture capital goods - Query Started By: - Vikash Kumar Dated:- 27-8-2015 Central Excise - Got 5 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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