Please Help: ACD-100% Utilization on Capital Goods
Posted Date : 12-Dec-2013 , 06:26:58 pm | Posted By: Bhavya
Category :
Excise | Answers :
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Comments :
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Can I utilize the 100% ACD( Additional Customs duty) with respect to Capital Goods since CEnvat Credit rules 2004 says ACD can be taken immediately on receipt of goods. Please quote any case Law or rules |
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| Posted By : |
16-Dec-2013, 10:47:43 |
| The Cenvat Credit Rules, 2004 are being amended to allow domestic
manufacturers to take credit of this additional duty of customs for payment of any excise
duty on their finished goods. Service providers
are not allowed to ta
ke credit of this
additional duty. Credit of this additional duty
can be utilised for payment of excise duty
(including special excise duty and additional
excise duties) on final products, but not for
paying service tax. Credit of this additional duty in respect of capital goods can be taken
in one installment (as against
two installments in other cases). All provisions relating to
Cenvat Credit, including those re
lating to rebate and refunds
are applicable to the this
additional duty, as are applicable to the excise
duty leviable under the Central Excise Act. |
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