Cenvat credit on endorsed bill

[chaganti srinivas]

Can we take Cenvat credit on the endorsed Bill of Entry which is originally on the name of 'X' endorsed to 'Y'. Basically material is capital goods and total machinery shifted to company 'y' with an lease agreement. And over a period of time owner ship of the material will be 'Y'. Please calrify with case laws if any.

AI Summary

Eligibility of Claiming Cenvat Credit on Endorsed Bill of Entry Disallowed; Proper Excise Invoice Required for Transfer A query was raised regarding the eligibility of claiming Cenvat credit on an endorsed Bill of Entry, where the bill was initially in the name of 'X' and later endorsed to 'Y'. The context involves capital goods and machinery transferred to company 'Y' under a lease agreement, with eventual ownership shifting to 'Y'. The response clarified that currently, endorsement on a Bill of Entry is not permissible. It was advised that the importer should obtain central excise registration as an importer or dealer and pass the excise duty through a proper excise invoice.