NILESH PRAJAPATI (EXECUTIVE ACCOUNTS) (66 Points)
25 August 2012hi pls can any one solve my porblem as given below ?
our company is manufacturing cum job worker, we have recd bill of custom in which BCD amount Rs.12640 & CVD amount Rs.16684 + 586 +293 & Additional duty Rs.6264 + Cess Rs.393 for import of Air Atomizing Nozzle so what will be the accounting entry and which amount can we claim credit. pls..........
Regards
Nilesh
CA Shashikumar PN
(Consultant - Taxation)
(264 Points)
Replied 25 August 2012
CVD & additional duty amount you can avail as input credit.
You can claim only CVD amount 16684+586+293 and additional duty of 6264/- only
Rama Krishnan
(MBA)
(571 Points)
Replied 11 September 2012
In current Bill of entry, wherein Cess on CVD is removed, only two elements are CENVATTABLE,
1. CVD (counter valling duty)
2. SAD ( special Additional Duty)
CAclubindia
