special cvd paid on capital goods gets 100 percent credit in the same year. my question is that the 50 percent credit to be taken on capital goods shall be calculated excluding it or including it !!!!
special cvd paid on capital goods gets 100 percent credit in the same year. my question is that the 50 percent credit to be taken on capital goods shall be calculated excluding it or including it !!!!
Additional Duty paid u/s 3(5) of Customs Tariff Act (Special CVD) is eligible for Cenvat credit for a manufacturer. In respect of capital goods, you can avail 100% credit this Special CVD (SAD) in the first year. (Rule 4(2)(a) of Cenvat Credit Rules).
Excluding special CVD you can take 50% cenvat credit.
Dear Sir
My Query Is I Have Capital Material Received On Challan Base As On Date 1.08.2011 And Its All ISsue To 3.08.2011
But Invoice Received After One Month So This Invoice Excise Duty Can Modvat In Excise Return And Its Show Or Not In RG23C Register
Pls Reply Urgent
| Originally posted by : RANA ANKIT | ||
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Dear Sir My Query Is I Have Capital Material Received On Challan Base As On Date 1.08.2011 And Its All ISsue To 3.08.2011 But Invoice Received After One Month So This Invoice Excise Duty Can Modvat In Excise Return And Its Show Or Not In RG23C Register Pls Reply Urgent |
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on top right corner of excise invoice please read
"original for buyer / duplicate for transporter"
so the invoice has to move with goods only, and if your such wordings get communicated to departmental officers then cenvat credit may go in soup, that such invoice is manipulated one coz it was not issued at the time of actual movement of goods.
| Originally posted by : Shobhit Rustogi | ||
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yes |
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