17 December 2009
In the CENAVT Credit Rules,2004, the manufacturer is entitled to take credit of duty paid on inputs. This duty is obviously paid by the supplier manufacturer and the duty amount shown on the excise invoice is to be taken by the purchaser manufacturer. For example the heads of duty payment may be basic duty(CENVAT), Additional duty, Education Cess, Higher Education Cess. The credit is to be taken in the respective heads and the balance is used to pay duty for the said heads. Means there is linier relationship in between these heads regarding taking of credit and its utilization.
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