cenvat credit

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CA Kanwaljeet

CA Kanwaljeet (Querist)

15 January 2010 dear expert,
i want to know that whether can we take cenvat credit of payment of custom duty

Satpal Singh

Satpal Singh (Expert)

15 January 2010 No, You can take onle the cenvat credit of Counterveiling duty of custom and aditional duty of custom not the custom duty.

BASUDEV PAUL

BASUDEV PAUL (Expert)

15 January 2010 No you are can't avail cenvat credit on custom duty namely BCD( Basic customs duty and education cess as well as as higher education cess on that) you can avail cenvat credit of CVD, ed cess on CVD Higher ed cess on CVD and of Additional duty of imports.
For other details pls refer availability of cenvat credi as under.
A manufacturer or producer of final products shall be allowed to
take credit of

i) the duty of excise specified in the First Schedule to the Tariff Act,
leviable under the Act;

ii) the duty of excise specified in the Second Schedule to the Tariff Act, leviable under the Act;

iii) the additional duty of excise leviable under Section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978;

iv) the additional duty of excise leviable under Section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957;

v) the National Calamity Contingent Duty leviable under Section 136 of the Finance Act, 2001 and

vi) the additional duty leviable under Section 3 of the Customs Tariff Act, 1975 equivalent to the duty of excise specified under clauses (i), (ii), (iii), (iv) and (v) above paid on any inputs or capital goods received in the factory. (Rule 3).

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