Credit of cenvat credit on imported machinery

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2012 TO ALL,
GREETINGS OF THE DAY,

I ASHISH KUMAR NAMDEV AS AN ASTT. MGR.A/C IS IN A WHEEL MFG.UNIT UNDER GOING ESTABLISHED ,IS IMPORTING MACHINES FROM UK ON EPCG BASE(6 YEARS) & DUTY PAID ON PORT BASE.

PLEASE CLEAR ME THE FOLLOWING ISSUES.

1-UNDER EPCG PURCHASE OF MACHINE WHICH DOCUMENT I HAVE TO MAINTAIN ,REPORTING ON WHICH TIMING TO WHOM,IN WHICH FORM NO. PLEASE PROVIDE.

2-WHAT IS THE BIFERCATION OF DUTY PAID ON PORT BY US AND WHICH DUTY IS TAKEN AS CREDIT ON CAPITAL GOODS UNDER WHICH RULE PLEASE GUIDE ME WITH EXAMPLE & NOTIFICATION.

THANKS

ASHISH KUMAR NAMDEV
+91-93680-28604

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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09 February 2012 mr, ashish ji,

Refer to custom circular No. 14 dtd 26.09.2008:

Para 5.3.2 of the Hand Book of Procedures(HBP) (Vol-I), [RE- 2008-09], which provides that, the Authorisation holder under the EPCG Scheme shall produce to the concerned Regional Authority, a certificate from the jurisdictional Central Excise Authority, confirming installation of capital goods at factory premises of Authorisation holder or his supporting manufacturer(s) /vendor (s) within six months from the date of completion of imports and to say that the Board has prescribed time period.

More info:

https://www.cbec.gov.in/customs/cs-circulars/cs-circulars08/circ14-2k8-cus.htm

https://dgft.gov.in/dgftmumbai/html/trmum/fy10/tn0110.htm

Ramesh kumar Tank(verma)
foreign trade consultant

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