refund of CENVAT paid on Machinery
This query is : Resolved
30 August 2008
1) Dealer is a Pvt.Ltd. Co. engaged in producing automobile parts (both with material & on job-work basis). It sales major part of production to a EOU without levying CENVAT duty. And therefore it has CENVAT Credit balance of around Rs.12lakhs which is untilised since 2 years. And because of this fact now they are not taking credits of new machines purchased as they can at least claim depreciation on the duty for Income Tax purpose.
Whether we can claim this balance credit as refund and what procedure we should follow?
Whether we can claim this balance credit as refund and what procedure we should follow?
27 September 2008
You can procure your inputs and capital goods without payment of duty also under bond.
You can take advance license for purchase of inputs etc. without payment of duty and even can import the goods without duty.
Refund is also allowed.
contact at: arbindaggarwal@yahoo.com
You can take advance license for purchase of inputs etc. without payment of duty and even can import the goods without duty.
Refund is also allowed.
contact at: arbindaggarwal@yahoo.com
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