Whether the Customs Duty (CVD) paid is CENVATable?
This query is : Resolved
25 January 2010
In the year 2005, a company imports a raw material without payment of duty against Advance Licence. The company had to fulfill the export obligation within 2 years.
The Company failed to fulfill the export obligation. In 2009, the Customs dept. issued a demand notice for BCD, CVD and interest for the B/E in the 2005. The Company paid the import duty(BCD + CVD) along with interest.
Now in the fin year 2009-10, can the company take the CVD for CENVAT???
Thanks in advance,
Arul.
The Company failed to fulfill the export obligation. In 2009, the Customs dept. issued a demand notice for BCD, CVD and interest for the B/E in the 2005. The Company paid the import duty(BCD + CVD) along with interest.
Now in the fin year 2009-10, can the company take the CVD for CENVAT???
Thanks in advance,
Arul.
30 January 2010
Yes credit of the CVD and the SAD if nay would be available as credit provided that the inputs had/will be used for manufacture of excisable goods. There is no time limit specified for credit.
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