about taking credit on the parts of machinery, Central Excise

[MEHUL ASHAR]

Respected Sir,

                          Is it necessary to take 100% credit(cenvat+4%import duty) of the parts of the machinery imported or

50% credit can be taken on that parts of the year in which it was purchased & remaining 50% in the next financial year.

Posts / Replies

[Pradeep Khatri]

Cenvat credit of SAD can be availed 100% in the first year but  credit of CVD will be availed in two installments. i.e. 50% in the first year and 50% in the subsequent year.