CENVAT CREDIT, Central Excise

[RAMESH ANANTHAKRISHNAN]

We are on the process of importing Capital Goods on payment of duty. As per my understanding we can avail 50% of the duty amount (CVD & SAD) during the current year and the balance in next year.

Kindly advise is there any changes in the procedures (i.e we can take 100% of the duty amount in the current year itself).

Regards

 

A.RAMESH

Posts / Replies

[Rama Krishana]

In case of SSI unit, 100% credit can be availed in first year itself.

For others, 50% in the first year and balance in the next years.

For more details, please read Rule 4(2) of CCR, 2004.

[Mangesh Lokre]

 

You can avail 50% ( BED )Cenvat Credit in the year of receipt and Balance 50% in next financial year.

Cenvat Credit of SAD can be availed 100%.

[Suminder Patial]

As per the Indian Central Excise Norms there is eligiblity to claim 100% of the additional duty of custom on capital goods.[Sea Rule 4(2a) of the central excise rule 2004].