21 December 2010
I had Imported some material & pay custom duty on these goods. Then I sold these goods. Can I claim the cenvat credit of this custom duty for the payment of service tax?
21 December 2010
Cenvat Credit is not available on the Customs duty paid on imported goods, only CVD is eligible for taking credit. Additional duty paid @ 4% in liew of VAT can be refunded by the retailer by applying to the Customs authorities. Moreover, Cenvat Credit is not allowable for such CVD if not used in relation to providing of output Service.
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