TaxTMI 
TaxTMI 
Cenvat Credit on Addl.CVD
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....envat Credit on Addl.CVD<br> Query (Issue) Started By: - Laxmaiah Vanamamula Dated:- 9-9-2011 Last Reply Date:- 11-9-2011 Central Excise<br>Got 5 Replies<br>Central Excise<br>Dear sir, we received raw Material in our Factory in August 2010.Excise Duty, Edu,Cess & Sec.Cess already taken in Aug,10 but, CVD also there in that Invoice, our Cleark is Not Taken CVD that Period, Presently can we take ....
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....that CVD as Cenvat Credit (Last Year Invoice) Please Reply & Advise me, Thanking You, V.Laxmaiah. Reply By pradeep khatri: The Reply: Yes, you can avail CENVAT credit on CVD now. Reply By NEERAJ KUMAR, RANCHI: The Reply: Yes, you can take this credit, as per the provisions laid in the cenvat credit rules, there is no problem with it. But, in my view you can intimate the concerned Range Offi....
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....ce while taking this credit and keep a receivig thereof. However as per law this is not necessary. So you can go ahead. Reply By s vijaya bhasker reddy: The Reply: Sir, It is not clear how excise duty and CVD co-exist in an invoice. Excise duty is paid on goods manufactured in the country while CVD is paid on imported goods. Reply By Anupam Tiwari: The Reply: Cenvat credit is a beneficial pie....
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....ce of legislation. Credit can be availed as long as it is proved that goods have actually been received in factory and used in or in relation to manufacture of final products. No time limit for availing credit has been provided in CCR,04. Instead word 'immediatly' has been used . The use of verb "may" instead of "shall" in Rule 4(1) of CCR,04 implies that directive to avail credit immeditely is di....
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....rectory in nature and not as mandatory. However, advise of Mr. Neeraj Kumar may be followed. In my view he is referring to 4% Special Addl. duty. Reply By NEERAJ KUMAR, RANCHI: The Reply: I do agree with Mr Tiwari.<br> Discussion Forum - Knowledge Sharing ....