Dear Sir / Madam, Can we utilize the SB Cess & KK Cess in CENVAT Credit?
Swacch bharat cess & krishi kalyan cess
channabasaiah (Account Assistant) (66 Points)
25 August 2016
9 Replies
CA Srujann kumar Reddy
(Asst Manager(Internal audit))
(1679 Points)
Replied 25 August 2016
No.... both are not eligible for cenvat credit or you should not even sett off from cenvat credit.
attika
(Article assistant)
(179 Points)
Replied 25 August 2016
Yes you neither utilize nor set off. You can refer notification no.02/2016 for that
channabasaiah
(Account Assistant)
(66 Points)
Replied 25 August 2016
Dear Madam,
Thank you very much.
CTM
CA Srujann kumar Reddy
(Asst Manager(Internal audit))
(1679 Points)
Replied 25 August 2016
further just now gone through one notification 28/2016 which prescribes that cenvat credit of KKC paid on inputs could be utilised for discharge of KKC only but no such thing is there for SBC
channabasaiah
(Account Assistant)
(66 Points)
Replied 25 August 2016
Dear Sir,
Is it applicable for manufacturer??
Thanking you,
CTM
CA Srujann kumar Reddy
(Asst Manager(Internal audit))
(1679 Points)
Replied 25 August 2016
no it is only applicable for service provider
channabasaiah
(Account Assistant)
(66 Points)
Replied 26 August 2016
Dear Sir,
Below both sentence from your end... I am confused which one to follow.
Plz guide me which is correct.
"Yes you neither utilize nor set off. You can refer notification no.02/2016"
"further just now gone through one notification 28/2016 which prescribes that cenvat credit of KKC paid on inputs could be utilised for discharge of KKC only but no such thing is there for SBC"
waiting for your lovable reply
Thanking you,
CTM
CA Srujann kumar Reddy
(Asst Manager(Internal audit))
(1679 Points)
Replied 26 August 2016
SBC is non creditable and non settable with cenvat credit
and KKC can be taken credit however should be used only for the payment of KKC
and KKC can be taken credit however should be used only for the payment of KKC
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