How can we claim 100% cenvat credit on capital goods relating ADDl CVD

Due recent changes in Excise Law we can claim 100% Cenvat credit on ADDL CVD. But as per the present Oracle India Financial set ups it is not possible to claim 100% on capital goods in the same year.

Hi,
First of all, As per our country legal and statutory requirments, we can not utilize 100% CENVAT in the same FY.
Best Regards,
Chandra

Similar Messages

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    We are taking cenvat credit of Additional Excise Duty on imported goods, 50% in first year and balance 50% in next year. However 100% cenvat credit can be claimed in the first year (when we receive the goods).
    How can we amend the same in SAP, so that 100% cenvat could be claimed on receipt of goods.
    Any Hint or suggestion.
    Edited by: ca sanjeev mehndiratta on Oct 22, 2010 11:41 AM

    Hi,
    First of all, As per our country legal and statutory requirments, we can not utilize 100% CENVAT in the same FY.
    Best Regards,
    Chandra

  • Cenvat credit of Capital goods

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    From the last year 2011, I heard that the cenvat credit for capital goods can be taken 100 % in the first year itself.
    How to the make the changes accordingly so that the 100 % tax amount goes to cenvat account instead of posting 50% to cenvat account & 50 % to cenvat on-hold account and then doing J2I8 to transfer of credits from cenvat on-hold account to cenvat account.
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  • Availing full CENVAT Credit for Capital goods

    Hi,
    In our client, they want avail full cenvat credit for Capital goods in the present fiscal year itself. How can we do this in SAP? Plz. explain me.

    Hi Pawan,
    You cannot avail total 100% Credit on the CENVAT paid on capital purchase as per the goverment rules.
    The puirpose of maintaining the goods as capital goods are that you are only eligible for 50% credit in the current fiscal year and remaining 50% Credit in next Fiscal Year. its nothing that we configured, it is standard functionality in the country version. The Excise Transaction Type CAPE which come in to play at the time of capital procurement.
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    2. If your client has maintained in J1ID as capital , you can take the Remaining 50% Credit in current fiscal year also using J2I8, Before using this transaction verified from Excise Authority.
    Or else As per my knowledge you cannt take 100% excise credit for Capital goods.
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  • Cenvat credit on capital goods.

    Dear all,
    1. There is a rule that the cenvat credit in respect of capital goods shall be allowed for the whole amount of the duty paid on such capital goods in the same financial year if such capital goods are cleared from the factory as such in the same financial year.
    2.The system is designed in such a way that the cenvat credit in respect of capital goods received in a factory or in the premises of the duty paid of output service at any point of time in a given financial year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year.
    Please suggest us how to configure the system for the point no :1
    Thanks & Regards,
    A.Anandarajan.

    By standard 50% credit can be taken on first year,If u want to take full credit use transaction J2I8,
    Also refer both links
    SAP MM CIN Settings
    http://www.sdn.sap.com/irj/scn/index?rid=/library/uuid/207dd2ad-bf92-2b10-a88b-e3a4a01ca7fc
    Capital Procurement in SAP
    http://www.sdn.sap.com/irj/scn/index?rid=/library/uuid/808c60ca-013b-2c10-34a2-94d1eb442e6f
    Edited by: Jeyakanthan A on Apr 22, 2010 2:01 PM

  • While taking balance cenvat credit on capital goods not showing J2I8

    DEAR ALL
    While taking balance cenvat credit (Carry forward) on capital goods not showing in J2I8 transaction, in j1iex is Header level is showing INPROCESSES But item level is showing POSTED.
    in register PART2 is Upted.
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    Sonu

    Hi,
    In capital goods procurement we will use 50% excise this year and rest of 50% credit we will use it in next year.
    Bcoz of this in header level its showing incomplete and the invoice posted for 50% created Part 2 entries.
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