Input credit of excise duty..

 

Dear Experts,

We have manufacturing unit….Importing some kind of raw material which we are using in our manufacturing.

While importing the above material we are paying some taxes those are mentioned in BILL OF ENTRY by customs dept…

The Bill of entry states the following taxes….

Basic amount: xxxxxxxxx

a) BCD:xxxxx

b) CVD:xxxx

c) Edu. Cess CVD:xxxx

d) SHE.CESS CVD:xxxx

e) Customs Education cess:xxxxxx

f) Addl Duty (Imports):xxxxxxx

g) SH customs Edu .cess:xxxxx

The Sum of  “a to g” is CUSTOMS DUTY that we are paying through dd…

My query is what is the exact taxes from the above list for the utilization of Input credit in ER-1 return (excise duty monthly return)

Please suggest me it’s very urgent for us….

Thanking you sir,

//SURYA//

Replies (4)

You are elibigle to take credit of CVD, ED and SH&E cess on CVD and Addl duty.

Regards

Dayananda

 

 

b) CVD:xxxx

c) Edu. Cess CVD:xxxx

d) SHE.CESS CVD:xxxx

==========================

only these are subject to cenvat credit

Dear Experts,

Thank you for your valuable replies...

Sir May I adjust additional duty to the account of VAT Payable.....

You can not setoff Additional duty credit against vat payable. Additional duty credit can be used for payment of Basic excise duty liability.

Regards

Dayananda

 

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