Dear All,
Please tell me the type of custom duty involved in importing a capital assets & What will be the treatment (its credit availment and utilisation) of custom duty involved i these transaction.
I will be highly oblised
Thanks
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TYPE OF CUSTOM DUTY & UTILISATION OF ITS CREDIT
Replies (2)
normally custom duty is 7.5% cenvat credit not available
on rest cvd10.3% and 4% cvd is eligible as cenvat credit.
Note- it depreciation is not permitted on cvd10.3% and 4% cvd is eligible as cenvat credit. if we avail cenvat credit under central excise
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