Cenvat Credit

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..... Cenvat Credit
Query (Issue) Started By: - murali krishna Dated:- 16-11-2010 Last Reply Date:- 17-11-2010 Central Excise
Got 2 Replies
Central Excise
Sir, My question is on Imported Capita .....

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..... l Gooods Special Additional duty 4%, how much credit is eligible 50 percent or 100 percent ? Reply By Mangesh Lokre: The Reply: You can avail the 100% Cenvat Credit against the SAD since it is duty on .....

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..... duty. 50% Credit is restrictred in case of CVD only. Reply By Vivek Dalmia: The Reply: 2nd proviso to Sub-Rule 2(a) of Rule 4 of Cenvat Credit Rules, 2004 provides that the Cenvat Credit of the addi .....

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..... tional duty leviable under sub-section 5 of Section 3 of the Customs Tariff Act, in respect of capital goods shall be allowed immediately on receipt of the capital goods in factory of a manufacturer. .....

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..... As SAD is levied under Sub-section 5 of Section 3 of the Customs Tariff Act, 100% of CENVAT Credit thereon is admissible at the time of receipt of the capital goods in the factory of the manufacture .....

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..... r. Regards - T.R. Krishnamoorthy
Discussion Forum - Knowledge Sharing .....

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