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TMI BlogSTORAGE TANK CREDITX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear sir. we purchase various storage tank ALKALI MEASURING TANK- SMBS DOSING TANK ANTI SCALANT DOSING TANK IN CH HEADING 73090090 CAN WE TAKE CENVAT CREDIT IN INPUT OR CAPITAL GOODS - Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By Rajagopalan Ranganathan - The Reply = Sir, Rule 2 (a) (A) (vii) of cenvat credit rule 2004 defines 'storage tank' as capital goods. Therefore you are eligible to take credit of duty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid on storage tanks as capital goods. You have to take 50% of duty paid on such tanks in the first year in which they are procured and the remaining 50% can be taken during any of the following yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs. First 50% should be availed within one year from the date of purchase invoice. - Reply By YAGAY AND SUN - The Reply = Storage Tanks are well incorporated in the definition of Capital Goods and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CENVAT credit on storage Tanks can be availed in two equal instalment in first two of its procurement. - Reply By KASTURI SETHI - The Reply = I support the views of both experts. - Reply By Ganes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... han Kalyani - The Reply = I am also of the same view as expressed by learned experts. Thanks.. - STORAGE TANK CREDIT - Query Started By: - SHARMA NARAYAN Dated:- 6-2-2017 Central Excise - Got 4 Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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