Availing cenvat credit
This query is : Resolved
11 August 2012
Dear Members,
As per the recent budget amendment, there is no Education Cess or Secondary and Higher Education Cess applicable on CVD.
My doubt is, in case Basic Customs Duty is Nil, but CVD is applicable (i.e. 12%), education cess has to be charged on the total duty (i.e. on BCD + CVD)?
Let me explain my doubt with example:
Assessable Value : 100
BCD : NIL
CVD : 12% (No Cess Included)i.e Rs.12
Customs educ cess : (2% on BCD+CVD)i.e Rs.2.24
CustomsS&h Edu cess : (1% on BCD+CVd) i.e Rs.1.12
My doubt is whether i can take cenvat credit i.e Rs. 2.24 and Rs. 1.12 kindly clarify
regards
ravindra
As per the recent budget amendment, there is no Education Cess or Secondary and Higher Education Cess applicable on CVD.
My doubt is, in case Basic Customs Duty is Nil, but CVD is applicable (i.e. 12%), education cess has to be charged on the total duty (i.e. on BCD + CVD)?
Let me explain my doubt with example:
Assessable Value : 100
BCD : NIL
CVD : 12% (No Cess Included)i.e Rs.12
Customs educ cess : (2% on BCD+CVD)i.e Rs.2.24
CustomsS&h Edu cess : (1% on BCD+CVd) i.e Rs.1.12
My doubt is whether i can take cenvat credit i.e Rs. 2.24 and Rs. 1.12 kindly clarify
regards
ravindra
11 August 2012
you may explain in below mentioned example:
http://taxguru.in/custom-duty/budget-2012-important-respect-custom-duty.html
http://taxguru.in/custom-duty/budget-2012-important-respect-custom-duty.html
11 August 2012
even though, the CESS are calculated on CVD when BCD is nil, CESS amount is not eligible for CENVAT CREDIT.
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