How much CENVAT Credit of Additional Duty Paid U/s 3(5) will be available on Capital Goods Imported????
50% or 100% ????
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How much cenvat credit allowed on addl. duty paid u/s. 3(5)?
Replies (3)
100% CENVAT Credit in first year is allowed. or you may avail 50% CENVAT Credit in first year and balance 50% credit in second year.
If the assessee is service provider, the CENVAT of such additional duty is not available at all. In other cases i.e. if he is a manufacturer, he is eligible to avail the credit of such additional duty. Read proviso to Rule 3(viia) of CCR.
Dear DP,
I think you are asking Addl duty on Imports (4%).
This portion of 4% Addl duty on Imports 100% eligible either INPUT/CG.
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