Cenvat credit on imported rawmaterial

gupta (Accountant) (305 Points)

02 September 2015  

Dear All

We are a manufacturer of wooden furniture and we are registered in Central Excise. Recently we imported Plywood Board from China -- now my question is --- should we take modvat credit of customs duty paid on the said import.If yes , then is there any percentage or we will take full amount of customs duty.

Please note Plywood Board is our raw material.

Waiting a prompt suggesion as we have to deposit C.E within 5th this month.

Regards

Jayanta