EXCISE - Urgent
This query is : Resolved
05 May 2009
M/s A & Co is a partnership firm in india manufactures bottles, which purchases capital goods from a 100% EOU.The EOU issues invoices as below for the said removal.
Amount in lacs
i) Assessable value :100.00
ii) Basic customs Duty @50% of 7.5%:3.75
on Rs.100.00
iii)CVD on i& ii above @ 10% :10.375
iv) Edu cess on CVD @ 2% :0.2075
v) secondary & Higher edu cess on :0.1037
CVD @ 1%
vi) Total Customs Duty :14.4365
vii)Education cess on customs duty:0.288
@2%
viii)Secondary & higher education :0.144
cess on Customs Duty @ 1%
ix) Aggregate duties of customs : 14.868
(vi + vii + viii)
x) Education cess on (ix) above : 0.297
@ 2%
xi)Secondary & Higher education : 0.149
cess on (ix) above @ 1%
Total Duty on DTA Sales :14.3145
what all are the amount eligible for CENVAT credit?
whether item x & xi are eligible for CENVAT creit?
Amount in lacs
i) Assessable value :100.00
ii) Basic customs Duty @50% of 7.5%:3.75
on Rs.100.00
iii)CVD on i& ii above @ 10% :10.375
iv) Edu cess on CVD @ 2% :0.2075
v) secondary & Higher edu cess on :0.1037
CVD @ 1%
vi) Total Customs Duty :14.4365
vii)Education cess on customs duty:0.288
@2%
viii)Secondary & higher education :0.144
cess on Customs Duty @ 1%
ix) Aggregate duties of customs : 14.868
(vi + vii + viii)
x) Education cess on (ix) above : 0.297
@ 2%
xi)Secondary & Higher education : 0.149
cess on (ix) above @ 1%
Total Duty on DTA Sales :14.3145
what all are the amount eligible for CENVAT credit?
whether item x & xi are eligible for CENVAT creit?
Madhukar N Hiregange
(Expert)
06 May 2009
Credit is available for the CVD + cesses thereon. Cusotms cesses not available for credit.
Rajesh Kumar
(Expert)
07 May 2009
The duty paid by 100% EOU is Central Excise duty (Section 3 of the Central Excise Act). Total duty paid is available as credit.
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