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Input VAT Credit On Capital Goods

Dear Senior's
I am working in Manufacturing company, We purchased some Capital goods like, (computers,furnitures,machineries) possible to claim input VAT-Tax credit from capital goods. This act is under Karnataka VAT.
2. Possible to Claim Excise duty CENVAT Credit on Capital goods.
Please suggest me.
Regards & Thanks.
Umamahesh
Email-
From India , Bangalore
Dear Umamahesh, If company produced escisable goods then you can claim 50% cenvat credit on capital goods in the current year & 50% next year. But if company produced exempted goods then you can not claim any cenvat credit.
From India , Chandigarh

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29 June 2010 05.29.39 PM
From: India , Bangalore
Views: 3818 Replies: 1 Appreciations: 0
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