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Cenvat Credit

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(Querist)
26 June 2009 Dear Experts,
Additional Duty of Custum is setoff against Exicise duty?? What about the basic custum duty [BED]. Is BED forms part of closing stock of raw material or else it forms part of profit & loss A/c. Please reply.
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
26 June 2009 Basic Cusotms duty not available for set offo. Is a ocst debited to P&L.
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