TaxTMI 
TaxTMI 
Respected Sir,
Is it necessary to take 100% credit(cenvat+4%import duty) of the parts of the machinery imported or
50% credit can be taken on that parts of the year in which it was purchased & remaining 50% in the next financial year.
about taking credit on the parts of machinery
22 Mar 2012 
1 Reply 
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Cenvat credit on import duties: SAD credit may be claimed immediately while CVD credit must be spread across two years.
Cenvat credit attributable to Special Additional Duty (SAD) on imported machinery parts can be claimed in full in the year of purchase, whereas credit attributable to Countervailing Duty (CVD) must be availed in two instalments, with half in the year of import and the remaining half in the subsequent year. (AI Summary)
Cenvat credit attributable to Special Additional Duty (SAD) on imported machinery parts can be claimed in full in the year of purchase, whereas credit attributable to Countervailing Duty (CVD) must be availed in two instalments, with half in the year of import and the remaining half in the subsequent year. (AI Summary)