Excise Addl. duty Credit

Dear all.

We have purchase one imported CNC machine and pay excise & custome duty. As per excise inspector we have taken credit for ED (16%) , Edu (2%) , SHE (1%) and Additional (Import) duty (4%). My question is how we can utilise credit of Additinoal Import duty against sell of our product in market. We have shown Addl. duty as a credit in seperate if ER-1 Return.

In short , in regular we can utilise credit of 16+2+1 duty against selling of goods now if we want to utilise credit of addl. duty i.e. 4% then in which way we can utilise and how we have to fill the return?

Awaiting your valuable responce.

Regards

Tarun Patel 

Replies (1)

Hi Tarun,

We can take credit of AED (4%) against excise duty payable on goods sold in the same way like BED & Cess. In Excise Return , you have to show credit amount of AED in Cenvat Credit taken column.

Thanks & Regards

Ca. B.K.BANSAL

 

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