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

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok