Use of cenvat credit
This query is : Resolved
25 May 2012
can we use cenvat credit for payment of duty on debonding of 100% eou?
28 May 2012
At present, EOUs ( including STP/EHTP units) are allowed to import as well as procure goods from domestic tariff area without payment of duty. Therefore, there was no necessity for extending CENVAT credit facility to them . However, some EOU’s have to procure their raw materials on payment of duty also. As a trade facilitation measure, it has been decided to allow EOUs (including STP/EHTP units) an option either to procure the goods from DTA without payment of duty under CT-3 procedure or to procure the goods on payment of duty and avail CENVAT credit. The credit could be utilized by them as per the Cenvat Credit Rules, 2004, including payment of duty on their DTA sales .
Please Read link:
https://www.centralexcisemadurai.tn.nic.in/tn2004/trade129.htm
Please Read link:
https://www.centralexcisemadurai.tn.nic.in/tn2004/trade129.htm
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