Imported goods from usa
This query is : Resolved
Deepak vishwakarma
(Querist)
05 January 2016
hello,
one of my client engaged in manufacturing of Oil field item and heavy capital item, imported some goods from USA and paid Custom duty, CVD.
whether client claim for Cenvat of CVD if
1): this imported Item is capital item
2): this item is other than consumable item
one of my client engaged in manufacturing of Oil field item and heavy capital item, imported some goods from USA and paid Custom duty, CVD.
whether client claim for Cenvat of CVD if
1): this imported Item is capital item
2): this item is other than consumable item
CA R SEETHARAMAN
(Expert)
05 January 2016
1 Cenvat credit of CVD can be claimed on capital goods.
2 This item is used in manufacturing cenvat credit can be claimed.
2 This item is used in manufacturing cenvat credit can be claimed.
Deepak vishwakarma
(Querist)
07 January 2016
my another query is
if excise duty paid on spare part on machinery which purchases for repairs and maintenance for the same and this spare part expenses is a revenue expenses not a capitalised expenses.
do i avail cenvat credit on purchase of spare part???
if avail then 50% or 100% in current year?
if excise duty paid on spare part on machinery which purchases for repairs and maintenance for the same and this spare part expenses is a revenue expenses not a capitalised expenses.
do i avail cenvat credit on purchase of spare part???
if avail then 50% or 100% in current year?
CA R SEETHARAMAN
(Expert)
07 January 2016
Yes cenvat credit available on spare parts 50% current year and balance next year.
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