CENVAT CREDIT CAN BE AVAILED ON DUTY OF CVD & SAD IF PAID BY DEPB DURING IMPORT RM.

[Asked by Guest]

DEAR EXPERTS,

we are manufacturer and paying duty on our FG. material on monthly basis.

and we are importing our Raw Material under DEPB & DEEC Scheme, hence can we eligible to take credit OF CVD & SAD . if we use / paid duty by DEPB License ...

pls. advice for this query..

regards,

Manan

[Himansu Sekhar]

You will take credit on the strength of bill of entry.

thank you sir for your reply, still i have query about DEEC scheme also. if custom duty paid BY DEEC thn also we can take credit of the same (CVD & ADD.DUTY )

pls. advise ..

regards,

Manan

AI Summary

CENVAT credit: available when the bill of entry shows CVD and SAD paid or discharged via export benefit schemes.
CENVAT credit for countervailing duty and special additional duty on imported raw materials under DEPB/DEEC is allowable on the strength of the bill of entry; the availability of credit depends on the bill of entry reflecting payment or discharge of those duties even when discharged via DEPB/DEEC schemes.