Excise credit on Goods IMported.
This query is : Resolved
Dharmesh k. Dubey
(Querist)
19 June 2009
Dear sirs n friends ,
whether C.V.D paid by a first stage dealer is eligible for set-off against Excise Liabilty ? n can dis benefit b passed on to the next stage dealers ?
whether C.V.D paid by a first stage dealer is eligible for set-off against Excise Liabilty ? n can dis benefit b passed on to the next stage dealers ?
CA.SHAHZAD SAYYED
(Expert)
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- Employee secondment
- GSTR9 Annual Return
- LLP audit and disclosure
- GST ITC as per notification 12/2023- central tax
- IMS (import of goods) ITC related
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Applicability of tax on invoice
- Form 144 TDS Return Validation error
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
