Cenvat credit

Save Share

This query is : Resolved

prashant (Querist)

08 June 2011 Sir,
I've received a DFT copy from a vendor to avail cenvat credit against engineering material.

But the supplier is charged the excise duty on goods value + local transportation charges.

Plz. suggest whether we can avail credit on same

Madhukar N Hiregange

Madhukar N Hiregange (Expert)

08 June 2011 Is it an invoice. If so and the same is an input and then the same would be available as credit.

prashant

prashant (Querist)

08 June 2011 Yes Ir, it a invoice to avail credit.

For Example

Goods Value - 100000
Transportation - 20000
Total - 120000
Excise Duty - 12360

So, should we avail 12360 or 10300

Plz. reply & under which rule it is acceptable.

U S Sharma

U S Sharma (Expert)

18 June 2011 as the invoice is produced on door delivery terms, so the "fixed traportation" is part of assessable value, hence input credit is available as per invoice 100%

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