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Utilisation of Cenvat credit CVD on imported goods for paying service tax
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....tax M/s. Hindustan Construction Company Limited (HCCL) imported an aircraft last year, which was cleared on payment of appropriate Customs duty (i.e., CVD). After its import, the aircraft was being let out by HCCL on hire basis without transferring right of possession and effective control. From 16-5-2008, 'supply of tangible goods for use, without transferring right of possession and effective c....