We are running Sponge Iron Plant and our main raw materials are Iron Ore, Iron Pellet and Steam Coal. We import Coal from African Countries and we pay the CVD @ 2%. Is the CVD applicable for CENVAT or Not. Please Clarify the same.
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Cvd 2% on imported african coal is applicable for cenvat
Replies (1)
If your final product is dutiable then you can claim CVD levied under section 3(1) and A.CVD levied under section 3(3) of CTA, 1975 as cenvat credit as these are eligible duty under rule 3(1) of CCR,2004. Therefore , these CVD and ACVD can be adjusted against any ED other that CEC and ADD (health cess).
The amount so availed as Cenvat Credit can only be utilised as per prescribed in rule 3(4).
Thanks & Regards
Karan
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