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TMI BlogCREDIT OF SAD IN RG 23 A PART - II CX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear All we received the material in varioys ch heading that is not capitalitem but we are capitalise the said material because of highvalue there is basic duty and SAD on invoice how can i take cenvat credit i am doing as per below detail sir i am taking 50 % of basic Duty in current year and rest 50 % next year and Sad i am taking 100 % credit in current year is thic correct or not pls reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Reply By Ganeshan Kalyani - The Reply = Happy New Year 2017. Primarily you need to check whethe items has been capitalized with taxes or not. If yes then there is no question for Cenvat credit. Thanks . - Reply By SHARMA NARAYAN - The Reply = excise duty not capitalise - Reply By MUKUND THAKKAR - The Reply = sir i am taking 50 % of basic Duty . if you have received imported material t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... han you can availed 50% of CVD amount + 100% of SAD amount. if you have received capital goods Indigenously , In case Basic duty 50% and goods procuring from 1st or 2nd stage dealer and passing SAD. in case you can also Eligible to take 100% credit. - Reply By SHARMA NARAYAN - The Reply = thanks to all of you sir - Reply By Ganeshan Kalyani - The Reply = I agree with the views of Sri Mukun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Ji's view. - Reply By KASTURI SETHI - The Reply = Sh.Ganeshan Kalyani Ji, Sh.Mukund Thakkar, an expert seldom appears but when he appears take it for granted that his answer to query is correct. 99.99 % he is correct. - Reply By YAGAY AND SUN - The Reply = According to Vikram Cement judgment, the definition of Capital Goods is very Stringent. If g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oods do not fall in this definition as amended from time to time then just capitalizing the same for accounting purpose would not do anything good. In the above query it is mentioned that goods procured by Mr. Narayan Sharma are not capital goods but they are capitalizing the same due to having high value. In our view this will backfire in near future. Experts views are welcomed. - CREDIT OF S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AD IN RG 23 A PART - II C - Query Started By: - SHARMA NARAYAN Dated:- 1-1-2017 Central Excise - Got 7 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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