As per the recent budget amendment, there is no Education Cess or Secondary and Higher Education Cess applicable on CVD.
My doubt is, in case Basic Customs Duty is Nil, but CVD is applicable (i.e. 12%), education cess has to be charged on the total duty (i.e. on BCD + CVD)?
Let me explain my doubt with example:
Assessable Value : 100
BCD : NIL
CVD : 12% (No Cess Included)i.e Rs.12
Customs educ cess : (2% on BCD+CVD)i.e Rs.2.24 CustomsS&h Edu cess : (1% on BCD+CVd) i.e Rs.1.12
My doubt is whether i can take cenvat credit i.e Rs. 2.24 and Rs. 1.12 kindly clarify
CAclubindia
