Cenvat availment in case of import
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2015
Dear All,
We had imported machinery and spares from various countries this year,please let me know whether i can avail 50% cenvat credit on CVD and 100% on additional duty for this Financial Year.
Regards
Rajesh Kotkar
We had imported machinery and spares from various countries this year,please let me know whether i can avail 50% cenvat credit on CVD and 100% on additional duty for this Financial Year.
Regards
Rajesh Kotkar
30 June 2015
kindly noted that
*****************
Cenvat Credit on Capital Goods is availed in the following manner:
50% of duty paid on purchase of capital goods is available in the financial year in which capital goods is received in the factory.
Balance 50% may be taken in any of the subsequent financial years
*****************
Cenvat Credit on Capital Goods is availed in the following manner:
50% of duty paid on purchase of capital goods is available in the financial year in which capital goods is received in the factory.
Balance 50% may be taken in any of the subsequent financial years
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