CENVAT credit eligible on goods procured from EOU

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Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2011 Please clarify,
Amount of Cenvat credit eligible in case the supplier EOU clears / assess goods without availing exemption under S.No. (2) of Notification No. 23/2003-CE.

(PS. Rule 3(7) of CCR,2004 prescribes admissible Cenvat credit in respect of goods cleared under S.No. (2) of Notification No. 23/2003-CE. only )

thanks & regards,

vijaya kumar

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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02 May 2011 In respect of inputs / capital goods procured from EOU unit, Cenvat credit is available equal to CVD and special CVD paid and education cess and SAH education cess w.e.f. 7-9-2009 (earlier, it was allowable as per a complicated formula) – Rule 3(7)(a) of Cenvat Credit Rules.

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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02 May 2011 for more :-

http://taxonline.net.in/STPI%20and%20SEZ/chap028.htm

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Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2011 Rule 3(7)(a) is applicable in case the supplier EOU clears goods under S.No. (2) of Notification No. 23/2003-CE. Whereas i am referring to cases where the supplier EOU clears / assess goods WITHOUT availing exemption under S.No. (2) of Notification No. 23/2003-CE

please clarify.

thanks & regards,

vijaya kumar