hi 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
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
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)
Agree Mr Rama Krishnan, The Cess on CVD is removed from calculation w.e.f 17/03/2012
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