about taking credit of addl.duty on imported machinery.

[MEHUL ASHAR]

Respected sir,

                        Can I take 100% credit of addl.duty of the imported machinery in this financial year or I have to take 50% this year & remaining in the next year.

[RadheyShyam Mangal]

The credit of addl.duty of the imported machinery can be taken 100% in the year of receipt of  imported CG in the factory of manufacturer.

AI Summary

Additional duty credit on imported machinery can be claimed fully in the year of receipt in factory. Credit of additional duty on imported capital goods can be taken 100% in the year in which the imported capital goods are received into the manufacturer's factory; pro-rating over two years is not required when the goods are received in that financial year.