Dear all Experts
can we take ACD credit on 1st stage & 2nd Stage dealer?
i got massege that we can not take this credit as per notiifcation?
please give me opinion on that bcz we take this credit
& plzz tell me what we do now either reverce this or pay if it is so.
Thanks & Regards
Sachin Adsul
As a dealer you can take credit and pass on credit of ACD & SAD
| Originally posted by :Rajesh Kumar | ||
| " | As a dealer you can take credit and pass on credit of ACD & SAD | " |
Respected rajesh sir we are manufacurer in that case what we do?
In case you have purchased the goods from a dealer/importer and the dealer's/importers invoices does not bears the following remarks : -
" no credit of the additional duty of customs levied under sub-section (5) of section 3 of the Customs Tariff Act, 1975 shall be admissible"
then you can take the Cenvat Credit of ACD. Non mentioning of this remark means importer is not applying for any refund and is passing on the cenvat benefit.
As per notification No. 102/2007 - Customs. refund of ACD will only be available to importer, if conditions therein are fulfilled. This is condition No. b of said notification.
CAclubindia
