gupta (Accountant) (305 Points)
02 September 2015Dear All
We are a manufacturer of wooden furniture and we are registered in Central Excise. Recently we imported Plywood Board from China -- now my question is --- should we take modvat credit of customs duty paid on the said import.If yes , then is there any percentage or we will take full amount of customs duty.
Please note Plywood Board is our raw material.
Waiting a prompt suggesion as we have to deposit C.E within 5th this month.
Regards
Jayanta
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 02 September 2015
As I understand, you can take the credit of CVD. You can also avail SAD credit provided you charge VAT when you sell the manufactured products.
R P Ananthakumar
(Sr. Officer - Central Excise/Cash)
(514 Points)
Replied 10 September 2015
You can take of CVD and SAD.
BCD and Customs CESS are not CENVATBLE.
CAclubindia
