Excise credit on Goods IMported.
This query is : Resolved
19 June 2009
Dear sirs n friends ,
whether C.V.D paid by a first stage dealer is eligible for set-off against Excise Liabilty ? n can dis benefit b passed on to the next stage dealers ?
whether C.V.D paid by a first stage dealer is eligible for set-off against Excise Liabilty ? n can dis benefit b passed on to the next stage dealers ?
19 June 2009
Dear Dubey
CVD under section 3(1) of Custome Tariff Act is allowed as Cenvat Credit, the CVD u/s 3(1) shall always be equal to Basic Excise duty
However if importer is Manufacturer then CVD u/s 3(5) is also allowed as cenvat credit, the rate shall be equal to local sales tax etc.
CVD under section 3(1) of Custome Tariff Act is allowed as Cenvat Credit, the CVD u/s 3(1) shall always be equal to Basic Excise duty
However if importer is Manufacturer then CVD u/s 3(5) is also allowed as cenvat credit, the rate shall be equal to local sales tax etc.
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