Briefly discuss, whether the following purchases are eligible for CENVAT credit as capital goods under rule 2(a) of the CCR, 2004: (i) Cool Cab Services Ltd. engaged in providing the passenger transportation service, pur
CS Professional · Advanced Tax Laws and Practice · PYQS · June 2017
Briefly discuss, whether the following purchases are eligible for CENVAT credit as capital goods under rule 2(a) of the CCR, 2004: (i) Cool Cab Services Ltd. engaged in providing the passenger transportation service, purchased 10 cabs (not registered in the name of Cool Cab Services Ltd.) for the purpose of providing said service.
Answer & Explanation:
The cabs purchased by Cool Cab Services Ltd, are not eligible for CENVAT Credit as capital goods as such cabs are not registered in the name of the service provider i.e, Cool Cab Services Ltd.
Topics: CENVAT Credit Rules, 2004
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