We availed the benefit under Chapter 3 of Foreign Trade Policy.
The benefit would be given in the form of Scrip for the exports realsied.
These scrips are transferable & also be sold & realize the money.
Also these scrips could be used for payment of customs and excise duty.
we used these scrips for payment of import duties.
As per the attached notfn. the receiver of the imported goods for which scrips are used for import duty, can avail the CENVAT credit of CVD & SAD.
Pl go through the notfn. & give your expert opinion on this.
The amount is quite high & if we are eligible for the credit, we don't want to lose it. Your earliest response would be much appreciated.
T & R
You can certainly avail the Cenvat credit of CVD and SAD debited from the scrips in lieu of cash payment.
There are certain circulars of CBE&C and I remember one such circular and you may pl. refere the same for more clarity.Ciruclar No.20/2006-Cus dated 21.07.2006 may pl. bereferred