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CENVAT CREDIT OF ADDITIONAL DUTIES OF CUSTOMS CVD ON IMPORTED COAL

Cenvat Credit - By: - Subramanya Rayaprol - Dated:- 21-10-2016 Last Replied Date:- 30-12-1899 - The imported coking coal suffers two types of duties at the time of import as customs duties. Coking Coal is classifiable under CTSH 2701, and is chargeable to 2.5% Basic Customs Duty, and 2% Additional duties of customs, levied under notification 12/2012-Cus at Sl. No. 121B. This 2% additional duties of customs is the additional duty leviable thereon under sub-section (1) of section 3 of the said Cus .....

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ion (1) of section 25 of the Customs Act, 1962 (52 of 1962), for the time being in force. (b) - appearing in column (5) means additional duty equal to duty of excise leviable on the goods as per the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) read with any other notifications issued under sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), for the time being in force. As regards, the importers are charging 2.5% basic customs duties and 2% additional d .....

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ce] shall be allowed to take credit (hereinafter referred to as the CENVAT credit) of - (i) the duty of excise specified in the First Schedule to the Excise Tariff Act, leviable under the Excise Act; 19[Provided that CENVAT credit of such duty of excise shall not be allowed to be taken when paid on any goods - (a) in respect of which the benefit of an exemption under notification No.1/2011-CE, dated the 1st March, 2011 is availed; or (b) specified in serial numbers 67 and 128 in respect of which .....

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