Duty eemption

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udaykumar (Querist)
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23 October 2013 if we import any capital goods on temporary Basis can we clear the goods with payment of Duty later we will export The goods to supplier?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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09 November 2013 are you sez/eou /btp/ehtp unit?

Cenvat Credit can be availed on capital goods also. But the credit should be taken in installments. 50% of the credit in the Financial year in which the goods are received and the remaining 50% in the next financial year or subsequent years. For Capital goods received in March, 50% credit can be taken in March and the balance 50% can be taken in April as they fall under two financial years.

The list of eligible capital goods has been provided in the Cenvat Credit rules 2004( for e.g., goods falling under chapter headings 82,84,85 and 90 etc of the schedule to the Central Excise Tariff Act).

If these capital goods are used in the factory of the manufacturer, the credit can be availed.

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