02 February 2013
Kindly guide for the amount of CENVAT credit available for a manufacturer importing machinery for manufacturing products in respect of below example: Duty on Import Machinery Machinery Value 177275.00 Total Duty Custom Duty @ 7.5% 13295.60 Basic Excise Duty @ 12% 22868.50 Edu Cess @ 2% 723.30 SHE Cess @ 1% 361.60 Addn Import Duty @ 4% 8581.00 TOTAL 45830.00
06 February 2013
You can claim the cenvat credit on capital goods current year 50% of the CVD and SAD and next year 50% of the duty. SSI unit can avail the 100% cenvat credit. Education and secondary edu. is not available in imported goods.