Credit of Custom Duty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2010
Sir,
My client Import goods on which custom duty charged.he take the credit of duty agnst the vat payable?Is he right
if not then what should be the treatment?
My client Import goods on which custom duty charged.he take the credit of duty agnst the vat payable?Is he right
if not then what should be the treatment?
CMA Ramesh Krishnan
(Expert)
21 September 2010
Customs duty cannot be set off against the local vat. it is need be add the cost of imported materials
Gagan Agarwal
(Expert)
22 September 2010
However, it needs to be kept in mind that the client can obtain a refund of the SAD portion paid on import of goods if the same goods are resold subsequently.
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