21 October 2010
My clients are importing computers from abroad and paying customs duty on the same. These computers will be sold in the local market in retail sector. They are also trading in computer parts procured locally and sold to customers locally. They are also manufacturing parts of computers which are excisable but it is a very small unit having a turnover of Rs 10 lacs only till date . Can they take credit of customs duty paid and if yes what is the procedure . Further will the SSI limit under excse include the sale of imported goods and local non excisable goods trading or not.
If your client trading computers in India not under manufacturing so he can refund the special additional duty only which is charged against vat (provision is that importer can applied for refund within 12 months of material purchased or bill of entry date but the material has been sold against that bill of entry)
CAclubindia
