channabasaiah (Account Assistant) (66 Points)
26 August 2016
channabasaiah
(Account Assistant)
(66 Points)
Replied 30 August 2016
Dear Sir,
I send the two notification no. tell which has to follow. My question is Can we utilized CENVAT Credit against SBC & KKC?
thanking you
CTM
Hardik Sorathiya
(Article Assistant)
(21 Points)
Replied 30 August 2016
You can not awail the CENVAT credit for SBC. But you can Awail the CENVAT credit for KKC.
Sunil Kumar
(Indirect Taxation )
(1246 Points)
Replied 31 August 2016
No, Normal Cenvat Credit cannot be adjusted against KKC/SBC.
For KKC:
You can claim credit of KKC against output liability of KKC.
For SBC:
No credit is allowed you need to pay the same in cash.
Hope, I am clear.
Regards
channabasaiah
(Account Assistant)
(66 Points)
Replied 31 August 2016
Dear Sir,
What do??????? all are giving in different different answers....
Some one says u can avail the Credit on KKC not SBC..
Some one says u can avail the Credit on SBC not KKC.
Some one says u can avail the Credit on both SBC & KKC.
Some one says u can not avail the Credit on both SBC & KKC.
what is going on.... i am graduate in B.com. and i following the seniors and the seniors giviing answer like this... .....
Thanking you very much all.... thank you once again.....
CTM
Sunil Kumar
(Indirect Taxation )
(1246 Points)
Replied 31 August 2016
Dear channabasaiah,
Have some patience. Let me solve your query in bit technical terms.
For Krishi Kalyan Cess please read clause 2 of attached notification.
For Swachh Bharat Cess, please read Q 14 of FAQ issued by department.
https://www.cbec.gov.in/resources//htdocs-cbec/press-release/faq-sbc.pdf
Hope, we are clear.
Some one may diisagree with other opinion. But asking questions in this manner on public domain disappoint a bit to me.
Regards
CAclubindia
