Dear Friends,
Question running in every CA folks mind is that,whether Cenvat Credit of SBC is available ?
As per FAQ.No.14 by CBEC, SBC is not integrated in the Cenvat Credit Chain. Therefore, credit of SBC cannot be availed.
Further, SBC cannot be paid by utilizing credit of any other duty or tax.
It is clear that SBC cannot be availed and cannot be utilised
for paying liability.
All the FAQs are available at the below link.
In my opinion, providing no CENVAT Credit of the SBC can
lead to cascading effect which is not
in accordance with the Value Added regime or the Goods and Service tax (GST)
regime. So, looking for further clarifications from the CBEC department.
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