We are on the process of importing Capital Goods on payment of duty. As per my understanding we can avail 50% of the duty amount (CVD & SAD) during the current year and the balance in next year.
Kindly advise is there any changes in the procedures (i.e we can take 100% of the duty amount in the current year itself).
Regards
A.RAMESH
Clarification on CENVAT credit: SSI units can claim 100% in year one; others claim 50% initially per Rule 4(2), CCR 2004. A query was raised regarding the availing of CENVAT credit on imported capital goods, questioning whether 50% of the duty amount (CVD & SAD) can be claimed in the current year and the remaining in the next year, or if 100% can be claimed immediately. Responses clarified that for SSI units, 100% credit can be availed in the first year. For others, 50% can be claimed in the first year and the balance in subsequent years. Additionally, 100% Cenvat Credit of SAD can be availed immediately, referencing Rule 4(2) of the CCR, 2004. (AI Summary)
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