19 June 2009
Dear Dubey CVD under section 3(1) of Custome Tariff Act is allowed as Cenvat Credit, the CVD u/s 3(1) shall always be equal to Basic Excise duty
However if importer is Manufacturer then CVD u/s 3(5) is also allowed as cenvat credit, the rate shall be equal to local sales tax etc.
CAclubindia
