How much cenvat credit is allowed on import goods (Inputs)??? while doing the calculation....Do we need to take 50% of BCD n then calculate CVD amount or Do we need to take CVD directly??? pls answer the question with relevent rule or any other proof, to support ur view.
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Cenvat credit on imported goods
Replies (1)
BCD is not eligible for cenvat credit. You can get only CVD (equivalent to excise duty), Education Cess, Secondary and higher education cess on CVD and ADC( equivalent to sales tax) - Additional duty of excise @ 4%.
You can take 100%of the above duties as credit provided it is eligible under CCR.
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