Cenvat credit of additional duty
This query is : Resolved
RAJIW KUMAR SINHA
(Querist)
31 May 2012
Can Traders take cenvat credit of additional custom duty paid u/s 3(5) of custom tariff act instead of refund claim? Because refund procedure is very clumsy.
CA Chitresh Gupta
(Expert)
01 June 2012
No, The trader can't avail the credit of additional custom duty levied u/s 3(5).
Moreover, if he is importer of goods and get registered as first stage dealer, he may take the credit and pass on to the manufacturer.
Regards
Moreover, if he is importer of goods and get registered as first stage dealer, he may take the credit and pass on to the manufacturer.
Regards
RAMESH KUMAR VERMA
(Expert)
01 June 2012
agreed with expert.
A(Manufacturer)assesse is entitled to claim cenvat credit of basic customs duty. It is only duties u/s 3(1), 3(3) or 3(5) of Customs tariff Act which can be claimed as credit..
read : https://www.excisekanpur.nic.in/cenvat.html
A(Manufacturer)assesse is entitled to claim cenvat credit of basic customs duty. It is only duties u/s 3(1), 3(3) or 3(5) of Customs tariff Act which can be claimed as credit..
read : https://www.excisekanpur.nic.in/cenvat.html
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