How much cenvat credit is allowed on import goods (Inputs)??? while doing the calculation....Do we need to take 50% of BCD n then calculate CVD amount or Do we need to take CVD directly??? pls answer the question with relevent rule or any other proof, to support ur view.
1 Replies
Mallikharjun
(Deputy Manager)
(304 Points)
Replied 29 February 2012
BCD is not eligible for cenvat credit. You can get only CVD (equivalent to excise duty), Education Cess, Secondary and higher education cess on CVD and ADC( equivalent to sales tax) - Additional duty of excise @ 4%.
You can take 100%of the above duties as credit provided it is eligible under CCR.
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
Related Threads
CAclubindia
