Cenvat credit use for basic excise duty may fund NCCD on final products, subject to specified tariff exceptions. Cenvat credit of basic excise duty paid on inputs used in or in relation to manufacture of final products may be utilised for payment of National Contingency Calamity Duty (NCCD) on those final products, except as barred by the fifth proviso which disallows such utilisation for goods falling under specified tariff items. Cenvat Credit Rules also require that credit of NCCD itself be used only for payment of NCCD, without affecting the permissibility of using basic excise duty credit for NCCD.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cenvat credit use for basic excise duty may fund NCCD on final products, subject to specified tariff exceptions.
Cenvat credit of basic excise duty paid on inputs used in or in relation to manufacture of final products may be utilised for payment of National Contingency Calamity Duty (NCCD) on those final products, except as barred by the fifth proviso which disallows such utilisation for goods falling under specified tariff items. Cenvat Credit Rules also require that credit of NCCD itself be used only for payment of NCCD, without affecting the permissibility of using basic excise duty credit for NCCD.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
