Dear All Can Benefit Recd under DEPB Scheme utilized as Cenvat Credit agst Excise or it is only utlized agst the Duty Payable under Customs??
Plz reply at the earliest.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 12 August 2009
DEPB can be utilised only for payment of custom duty. However, cenvat credit of CVD/SAD is available, if paid through DEPB.
Dayal
(Gen. Manager - Indirect Taxation)
(3434 Points)
Replied 04 January 2010
| Originally posted by : Rajesh Kumar | ||
 |
DEPB can be utilised only for payment of custom duty. However, cenvat credit of CVD/SAD is available, if paid through DEPB. |  |
As per Customs Notification No.89/2005, condition no.(vi), importer is entitled to avail Cenvat credit of additional duty leviable under Section 3 of the Customs Tariff Act, against the amount debited in the Duty Entitlement Pass Book (DEPB).
Validity of above notification has been extended "till further notice" by notification no.41/2008-Cus. dated 31-03-2008.
CAclubindia
