Ct1 bond
This query is : Resolved
20 April 2013
Does the company needs to pay money for Bond (say Rs. 50 L) under EXCISE when exporting? Where the Bond amount shown in b/s when paid.The company exports goods after issuance of CT1 mentioning the name of the manufacturer. What is the accounting treatment for duty drawback?
RAMESH KUMAR VERMA
(Expert)
26 July 2013
NO THE COMPANY SUBMIT THE BOND AND APPROVED FROM EXCISE IN CONTRAVENTION DUTY WILL BE PAID BY EXPORTER .
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