Chhavi Aggarwal (Taxation Officer) (32 Points)
19 October 2013A company (ABC LTD) imported some tools and paid CVD on the same. After import, it immediately sold these itmes to one of its sister concern (XYZ LTD) and mentioned the CVD paid at the time of import separately. ABC Ltd did not take the benefit of CVD. Can XYZ Ltd adjust the CVD against output service tax?
CA Ashish Lodha
(Chartered Accountant)
(184 Points)
Replied 19 October 2013
Yea XYZ ltd can take the credit of CVD & utilise it against output service tax.
check Rule 3 & 4 of CENVAT CREDIT RULES.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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