Can we take the CENVAT credit on R&D (reserch & Development)Equipment(capital Goods)Please guid us w/relevant notification/Circular.

Query : Is CVD duty and additional duty leived on the Import of goods BOTH are eligible for being set-off under CENVAT credit.

Aslo As per Rule 3(1)(vii) and Rule 3(1)(viia) of CENVAT Credit Rules,2004, the credit of both types of duties is allowed.
but in Rule 3 (1) (Viia) aslo say that
Provided that a provider of taxable service shall not be eligible to take credit of such additional
duty;
But what will be in case of someone is providing taxable service and taxable sale under MVAT. Then he can take set-off of both custom duty or NOT ???

Dear All,
Pls explain the procedure for refund claim of customs duty paid when RM & CG are imported.

Thanks & Regards
Biji Varghese
9011096842

If a foreign company wants to give its machinery on lease to a company in india and take it back after the lease period is over, is it possible???

If yes can u plz help me out with the procedure?

Situation 1

Company X is a MNC in gujarat. It wants to import a machinery from outside and give it on lease in mumbai. It has just applied for IEC registration on 15-01-10. Can it send the order for the machinery on 18-01-10? Will the company have to wait till the registration is complete? In any case the machinery will be delivered in March only as it wil come by ship.

Dear Friend,

Would u be kind enough to tell me what are the conditions and other things i should keep in mind to expedite the import of Raw material for the plastic lens in India, i dont wish to make any unnecssary delay in the process. PLZ...

Sir, practically what conversion rate is used for converting the value of any Imported M/C or any imported item for that matter?

Is the rate given on BILL OF ENTRY used?

And suppose that 40 % advance payment has been done @ $1=Rs 40 on 1.5.2009. Bill of Entry date is 1.7.2009 & M/C has been Received in the factory on 1.8.2009. So can we use Rs 40(the rate prevailing at the date of 40% Advance Payment) as the conversion rate????? DO WE HAVE AN OPTION TO DECIDE BETWEEN Rs 40 & RATE GIVEN ON BILL OF ENTRY????

Dear Sir/Madam,

Plz help, we have our company IEC code now I want to renew IEC Code No. and want to change our company address, so I request you to please give me the application forms regarding mentioned above changes.

Thanks and regards,

respected sir/madam,
can drawback be sanctioned when goods are exported under rule 18 of CEX rules 2002 i.e, rebate claim of duty paid on clearance of finished product. the unit is paying duty as detailed in the invoice and ARE-1 and then claiming rebate. the assesssee is also availing cenvat credit and claiminig drawback @ 1% which is same whether cenvat availed or not.
Can the asseessee avail simultaeously all these benefits ie, Cenvat on Inputs, Rebate on Exports as well Drawback?