CENVAT Credit utilization for Payment of Ed. Cess
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2011
We are registered under Central Excise as manufacturer.
We have balance of CENVAT Credit of Basic Excise duty, but no credit balance is available in respect of Ed. Cess and S.Ed Cess.
My question is, whether the CENVAT Credit of Basic Excise duty be get utilized for payment of Ed. Cess and S.Ed Cess on the final products u/r 3 of CENVAT Credit rules?
We have balance of CENVAT Credit of Basic Excise duty, but no credit balance is available in respect of Ed. Cess and S.Ed Cess.
My question is, whether the CENVAT Credit of Basic Excise duty be get utilized for payment of Ed. Cess and S.Ed Cess on the final products u/r 3 of CENVAT Credit rules?
Ashish Goyal
(Expert)
25 May 2011
Yes,Credit of excise duty can be used for payment of Ed.Cess and S. Ed. Cess but not vise versa...
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