Matter of cenvat credit on imported capital goods

This query is : Resolved

Rajiv (Querist)
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18 December 2013 gud evening to all experts,
we purchase new machinery from chine. i want to ask you only that can we take 50 % cenvat credit on this f.y and 50 % cenvat credit next f.y.
2-can we take credit of education cess and shec on capital goods purchase or only basic excise duty

AJITHKUMAR M

AJITHKUMAR M (Expert)
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18 December 2013 Dear friend,

In respect of capital goods, 50% of the credit can be availed during the year of receipt and the remaining 50% during the next financial year.

In case of imported goods, no cess is payable for the CVD portion. The E Cess and S&HE Cess paid is towards the customs duty portion.