Dear Freinds,
By latest union Budget 2012-13, the patter for calculation of E.Cess and SHE on Bill of entry has been changed. Now, the both E.Cess and SHE are being calculated on BCD + CVD and the term is bening used like Custom Edu. Cess and Custom SHE Cess.
Whether Cenvat credit (proportionate on CVD) of E.Cess and SHE is allowed or otherwise? Pl guide.
Cenvat credit unavailable for education and SHE cesses computed on customs duty plus CVD after budget change. Whether Cenvat credit is available for education cess and secondary and higher education (SHE) cess after the Budget 2012-13 change that computes those cesses on the sum of basic customs duty and countervailing duty on the bill of entry; the forum reply states that proportionate Cenvat credit for those cesses calculated on the CVD is not allowed. (AI Summary)
TaxTMI 
TaxTMI 
