Dear All,
Please tell me the type of custom duty involved in importing a capital assets & What will be the treatment (its credit availment and utilisation) of custom duty involved i these transaction.
I will be highly oblised
Thanks
DURGESH (AUDITOR) (27 Points)
03 March 2011Dear All,
Please tell me the type of custom duty involved in importing a capital assets & What will be the treatment (its credit availment and utilisation) of custom duty involved i these transaction.
I will be highly oblised
Thanks
shankar patil
(CEO)
(85 Points)
Replied 07 March 2011
normally custom duty is 7.5% cenvat credit not available
on rest cvd10.3% and 4% cvd is eligible as cenvat credit.
Note- it depreciation is not permitted on cvd10.3% and 4% cvd is eligible as cenvat credit. if we avail cenvat credit under central excise
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 09 March 2011
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