Cenvat credit
This query is : Resolved
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
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
(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.
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.
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
(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%
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