Cenvat credit for custom duty
This query is : Resolved
Pramod Kumar Jain
(Querist)
23 October 2010
We want to import construction equipment on which we have to deposit custom duty. Now the question is custom duty paid on import of capital goods adjustable with service tax as we have to pay service tax.
23 October 2010
Input credit for custom duty is not available, however you will get credit of excise part.
Madhukar N Hiregange
(Expert)
24 October 2010
Customs duty normally consists of customs duty [ normal rate 10%] addtional duty of cusotms equal to excise duty [ also 105 called CVD at times] and special addtional duty of cusotms [ 4%]
In these for the manufacturer ADC +SAD i.e. 10 + 4 is available
For service providers 10% would be available.
Capital goods shouldbe eligible and also used for manufacture/ service subjected to duty.
In these for the manufacturer ADC +SAD i.e. 10 + 4 is available
For service providers 10% would be available.
Capital goods shouldbe eligible and also used for manufacture/ service subjected to duty.
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