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what is capital good and asset as per excise.
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Capital Goods are those which are used in direct
manufacturing of a Finished Goods.Assets are those used not
in direct manufacturing but for secondary purpose.As per
CENVAT credit facility is available (like 50% in year
capital goods purchased and remaining 50% in subsequent
year of purchase).
| Is This Answer Correct ? | 16 Yes | 2 No |
Answer / shanmuka rao goru
In general words Capital goods means equipment, machinary
used by Manufacturer for manufacturing goods or service
provider to provide services subject spesified goods in
definition.(CENVAT Credit Rules , 2004)
Object : Manufacturer or service provider can take credit
(Excise Duty on Captial Goods ) on capital good and deduct
from Excise duty or Service tax payable.
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / pradeep dxit
When the Excise Duty to be paid by the manufacture
| Is This Answer Correct ? | 1 Yes | 0 No |
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