Dear all.
We have purchase one imported CNC machine and pay excise & custome duty. As per excise inspector we have taken credit for ED (16%) , Edu (2%) , SHE (1%) and Additional (Import) duty (4%). My question is how we can utilise credit of Additinoal Import duty against sell of our product in market. We have shown Addl. duty as a credit in seperate if ER-1 Return.
In short , in regular we can utilise credit of 16+2+1 duty against selling of goods now if we want to utilise credit of addl. duty i.e. 4% then in which way we can utilise and how we have to fill the return?
Awaiting your valuable responce.
Regards
Tarun Patel
CAclubindia
