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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Rental income of jointly held property
- LIABILITY ADJUSTMENT
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Banking Related Issue
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
