Credit of edu. cess and sahe on imported capital goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 January 2014
I am working with a mfg co. we imported capital goods from out of india in oct. 2012 but bill of entry is issue on 23.08.2011 and 12.01.2012. on bill of entry the following duties are chargeable
Basic Custom duty
CVD 12 % equivalent to excise duty
Special CVD 4%
education cess @ S. & H Edu. Cess both on BCD & CVD.
We take the the cenvat credit of CVD 12% Special CVD 4% Edu. Cess 2% and S.& H. Edu Cess 1% on CVD.
My question is that can we take the credit of Edu. Cess 2% and S.& H. Edu. Cess 1% charged on CVD 12 %
Pls. reply as early as possible with some notification or any other guideance.
Thanks & Regards
B.K.Singh
Basic Custom duty
CVD 12 % equivalent to excise duty
Special CVD 4%
education cess @ S. & H Edu. Cess both on BCD & CVD.
We take the the cenvat credit of CVD 12% Special CVD 4% Edu. Cess 2% and S.& H. Edu Cess 1% on CVD.
My question is that can we take the credit of Edu. Cess 2% and S.& H. Edu. Cess 1% charged on CVD 12 %
Pls. reply as early as possible with some notification or any other guideance.
Thanks & Regards
B.K.Singh
28 January 2014
Edu. cess and HSE cess is not available from 1.4.2012 before these period you can take the cenvat credit of edu. cess and HSE cess. On the capital goods you can take the 50% cenvat credit in the current year and 50% next year.
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- 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
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
