Dear All,
I am working for manufacturer exporter producing Textile goods - Yarn.
Recently, we had imported capital machineries using CESS license for setting up of new plant.
To add up, we receive a drawback of 3% on our shipments.
Now my question is, we wanna avail CENVAT credit for the CESS license value. In this case, will the drawback remain the same or will it be reduced to 1.7%??
Our consultant says, its CENVAT claim on capital goods, so drawback won't get reduced. I doubt the same.
Pls clarify.
CAclubindia
