taxes

This query is : Open

survesh (Querist)
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25 January 2011 hi

Refered to Bill of entry there are some taxes like Custom Duty,CVD & Add duty.

Which tax is

Addition duty on import

is it releated to Excise tax OR custom Tax

Kumar

Kumar (Expert)
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26 January 2011
Both CVD and Addl Duty are additional duties levied under Customs Tariff act.

CVD is levied towards excise duty paid if the goods have been manufactured in India

AID is levied towards Sales tax

But both CVD and AID can be availed as Cenvat input credit unless restricted otherwise.

survesh

survesh (Querist)
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27 January 2011 Sir,

A Prop. has purchases CNC Machine Paid custom Duty,CVD & Addition Duty on Import.

Please Say can he take setoff of CVD,Additional Duty & Custom Duty against his service tax liability.

OR All should be capitalized with CNC Machine.Please Guide Me.The Prop has taken Registration of VAt,Service tax.

What are the concept or understanding , limit or slab to get Excise registration

survesh

survesh (Querist)
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02 February 2011

AID is levied towards Sales tax (is any setoff availablie in Vat for AID)

But both CVD and AID can be availed as Cenvat input credit unless restricted otherwise. (What Does this sentence means)