Cenvat credit under central excise ruls
This query is : Resolved
15 August 2012
Dear Sir,
I am a manufacturer and i have purchase a machinery from Germany and i have CVD and additional duty so tell me how i will avail cenvat credit in this financial year and next f,y
I am a manufacturer and i have purchase a machinery from Germany and i have CVD and additional duty so tell me how i will avail cenvat credit in this financial year and next f,y
16 August 2012
This machinery will be treated as a capital goods. CVD and Special additional duty(SAD) is collected on import in lieu of the excise duty and sales tax respectively.
Cenvat credit on Capital goods is available in 2 years - 50% in the 1st year and 50% in the 2nd year.
You can, therefore, claim the CVD in two parts. Of course, you can claim education cess and SHE cess on CVD too.
Cenvat credit on Capital goods is available in 2 years - 50% in the 1st year and 50% in the 2nd year.
You can, therefore, claim the CVD in two parts. Of course, you can claim education cess and SHE cess on CVD too.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- E way bill for tractors
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
