Dear All Can Benefit Recd under DEPB Scheme utilized as Cenvat Credit agst Excise or it is only utlized agst the Duty Payable under Customs??
Plz reply at the earliest.
2 Replies
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 12 August 2009
DEPB can be utilised only for payment of custom duty. However, cenvat credit of CVD/SAD is available, if paid through DEPB.
Dayal
(Gen. Manager - Indirect Taxation)
(3434 Points)
Replied 04 January 2010
| Originally posted by : Rajesh Kumar | ||
 |
DEPB can be utilised only for payment of custom duty. However, cenvat credit of CVD/SAD is available, if paid through DEPB. |  |
As per Customs Notification No.89/2005, condition no.(vi), importer is entitled to avail Cenvat credit of additional duty leviable under Section 3 of the Customs Tariff Act, against the amount debited in the Duty Entitlement Pass Book (DEPB).
Validity of above notification has been extended "till further notice" by notification no.41/2008-Cus. dated 31-03-2008.
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