hi...
Can credit of CVD be taken??? give reason for ur answer??
thank you
2 Replies
CA CS Akashdeep Singh
(Practicing CA)
(1394 Points)
Replied 28 April 2009
Read Rule 3(1) & 3(7) of Cenvat Credit Rules, 2004
RAJU CHANDAK
(ACCOUNTS MANAGER)
(66 Points)
Replied 02 May 2009
The central government exempts goods falling within the First Schedule to the Customs Tariff Act, 1975 when imported into India for subsequent sale, from the whole of the additional duty of customs leviable,” a notification by the Central Board of Excise and Customs said. The CVD, levied at 4% is also known as the special additional duty (SAD) and is levied to offset the effect of central excise. Please try this link for more details /notice_circulars/notice_list_detail.asp?notice_id=631
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