A 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?
Menu
Adjustment of cvd
Replies (1)
Yea XYZ ltd can take the credit of CVD & utilise it against output service tax.
check Rule 3 & 4 of CENVAT CREDIT RULES.
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
