Additional excise duty 4% (import) can be setup with bed

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Dear Experts,

We have done Import Purchase and taken credit of Addtional Excise duty 4%, can I setup this duty with Basic excise duty payable which we have charged in Invoices.

ie.  Credit taken of Additional Excise duty paid thrugh DEPB License  -          100000

       Excise duty payable 12%                                                                          -            50000

    can I setup above amount.

 

Replies (3)

The additional Excise duty (AED) can utilize as par with your basic Excise duty. you can utilize the AED as CENVAT Credit for payment of final exicse duty. it can't setoff with Service Tax payable/

Dear Mr Sunil Kumar G

please will you provide Notification No. of 4% AED not utilise for payment of Service Tax ?

Regards

Sharad

 

Refer Rule 5 of Cenvat Credit rules 2004 prov 2 "  further that no credit of the additional duty leviable uhnder sub section (5) of section 3 of the Custom Tariff Act shall be utilized for payment of Service Tax on any output service"


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