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2015 (10) TMI 1919 - AT - Central ExciseCENVAT Credit - Credit on CVD - 100% EOU - whether the BCD should be the rate as specified in tariff or the basic custom duty which was payable by the 100% EOU - Held that:- A combined reading of the Notification as also the proviso, it will be seen that there is no intention to restrict the CENVAT credit under the CENVAT Credit Rules but the intention is to permit the CENVAT only on the countervailing duty portion. Notification 23/2006 does not reduce the rate of basic customs duty but the quantum is reduced by 75%. In the proviso, taking into account this aspect, the words used are BCD/400. It is very clear that the term BCD in the second proviso implies the basic custom duty applicable on the goods by a normal importer from abroad. This duty rate may be tariff rate or an effective rate as per unconditional exemption Notification. - credit taken by the appellant is correct - Decided in favour of assessee.
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