Dear Experts,
ie. Credit taken of Additional Excise duty paid thrugh DEPB License - 100000
Excise duty payable 12% - 50000
Lalit Sangani (M.Com. Asst. Manager Account) (736 Points)
04 May 2012Dear Experts,
ie. Credit taken of Additional Excise duty paid thrugh DEPB License - 100000
Excise duty payable 12% - 50000
Sunil Kumar G
(AGM Taxation)
(373 Points)
Replied 04 May 2012
The additional Excise duty (AED) can utilize as par with your basic Excise duty. you can utilize the AED as CENVAT Credit for payment of final exicse duty. it can't setoff with Service Tax payable/
sharad sangle
(excise)
(23 Points)
Replied 08 May 2012
Dear Mr Sunil Kumar G
please will you provide Notification No. of 4% AED not utilise for payment of Service Tax ?
Regards
Sharad
Sunil Kumar G
(AGM Taxation)
(373 Points)
Replied 08 May 2012
Refer Rule 5 of Cenvat Credit rules 2004 prov 2 " further that no credit of the additional duty leviable uhnder sub section (5) of section 3 of the Custom Tariff Act shall be utilized for payment of Service Tax on any output service"
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)