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CENVAT Credit on CVD - Imports

Customs - Started By: - Ganeshan Kalyani - Dated:- 17-3-2016 Last Replied Date:- 18-3-2016 - Dear Experts, With reference to Notification No. 1/2016-Central Excise (N.T.) dated 01.02.2016, the CENVAT Credit on CVD - Counter vailing duty has been omitted, retrospectively with effect from 1st of March, 2015. I wanted to discuss why this amendment has been made retrospectively while any other tax amendment has been proposed prospectively, Even respected Modi Government talked about prospective chan .....

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ective from 1.3.11. By this notification restriction of availing not more than 85% of Additional Duty of Customs on ships, boats etc-was imposed. This proviso stands omitted means restriction has been withdrawn. Now full credit of Additional Duty Customs paid on ships, boats etc. can be taken. This is in favour of assessee. Pl. go through the relevant extract of notification given below: (2) They shall come into force with effect from the 1st day of March, 2015. 2. In the CENVAT Credit Rules, 20 .....

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