CENVAT CREDIT FORMULA OF BCD AND CVD

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shyam (Querist)

20 January 2010 Dear experts,
CENVAT CREDIT FORMULA OF BCD AND CVD.

Basically we are graninte manufacturers and exporters of the same.

I want to know the current formula of BCD and CVD on credit of excise duty.

please send me reply immiditly it is very urgent.

Regards,

KSINGH
Consultant.

BASUDEV PAUL

BASUDEV PAUL (Expert)

22 January 2010 May be useful for you
Fifty per cent. of [X multiplied by {(1+BCD/100) multiplied by (CVD/100)}], where BCD and CVD denote ad valorem rates, in per cent., of basic customs duty and additional duty of customs leviable on the inputs or the capital goods respectively and X denotes the assessable value.

Provided that the CENVAT credit in respect of inputs and capital goods cleared on or after 1st March, 2006 from an export oriented undertaking or by a unit in Electronic Hardware Technology Park or in a Software Technology Park, as the case may be, on which such unit pays excise duty under section 3 of the Excise Act read with serial number 2 of the notification no. 23/2003-Central Excise dated 31st March, 2003 [G.S.R. 266(E), dated the 31st March, 2003] shall be equal to X multiplied by {(1+BCD/400) multiplied by (CVD/100)}.

shyam

shyam (Querist)

23 January 2010 Thank you very much.

Regards,
Singhk

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