I am CA Binal Sheth from Surat.
Case: Whether cenvat credit can be availed of CVD, etc paid on machinery imported under EPCG and cleared from 1st company in BADDI to another company in DAMAN after full payment of saved custom duty, CVD, etc on surrender of EPCG license.?
Further details,
Ø The company in Baddi has imported the machinery two years before and now it wants to transfer the same to another company in DAMAN. So whether sub rule (5) of rule (3) of cenvat credit rules, 2004 would apply to other company in Daman?
Ø The 1st company in Baddi has obtained registration under excise recently whereas it has imported the machine 2 years before so can it now prepare excisable invoice under rule 9 and if so, what about excise component in the invoice?
Ø Also since the company has imported the machine earlier can the company endorse the bill of entry now?
Ø The 1st company in Baddi has not availed any cenvat credit on said capital goods on purchase of said machinery, so can it pass on the cenvat credit to Purchaser Company in Daman? If so on what grounds..?
Waiting for your response.
CAclubindia
