Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Micropure Parenterals Pvt. Ltd. Versus Commissioner of Central Excise

CENVAT 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 quan .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

015 - Hon ble Shri P.K. Jain, Member (Technical) For the Appellant : None For the Respondent : Shri N.N. Prabhudesai, Superintendent (AR) ORDER Brief facts of the case are that the appellant purchased certain inputs from 100% EOU. After receiving the goods they have availed credit of CV duty paid by the 100% EOU. The issue is relating to the method of quantification/computation of the credit so availed. 2. None has appeared on behalf of the appellant, but vide their letter dated 29/06/2015 they .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ified in tariff or the basic custom duty which was payable by the 100% EOU. He submitted that the normal meaning of the word BCD would be the rate at which customs duty was payable by the 100% EOU and the idea of the said proviso is to restrict the credit availed by a unit. Learned AR took me through order of the Commissioner (Appeals) to bring forth the point. 5. I have gone through the appeal memorandum as also the order of the Commissioner (Appeals) and the submissions made by the learned AR. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ification in force was reduced by 75%, and (b) no additional duty of customs was leviable under sub-section (5) of the section 3 of the said Customs Tariff Act: Provided that while calculating the aggregate of customs duties, additional duty of customs leviable under sub-section (5) of the section 3 of the Customs Tariff Act shall be included if the goods cleared into Domestic Tariff Area are exempt from payment of sales tax or value added tax. Illustration: - Assuming product X has the value &# .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Update Alerts     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version