A company (ABC LTD) imported some tools and paid CVD on the same. After import, it immediately sold these itmes to one of its sister concern (XYZ LTD) and mentioned the CVD paid at the time of import separately. ABC Ltd did not take the benefit of CVD. Can XYZ Ltd adjust the CVD against output service tax?
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Adjustment of cvd
Replies (1)
Yea XYZ ltd can take the credit of CVD & utilise it against output service tax.
check Rule 3 & 4 of CENVAT CREDIT RULES.
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