Custom duty

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ashwini jethliya (Querist)
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22 February 2011 1. whether demmurage charges paid to the custom department for clearing the imported Machinery should be capitalized or not according to As 10 fixed assets.please give briefly description.

2.For capitalizing the custom duty in the value of imported machinery whether CVD,Education cess and higher edu cess should be deducted or not.
plz give briefly description.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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10 March 2011 Demurrage is not a regular charges its a type of penalty. it is provision in custom that You can charge the whole amount from your customer if the customer is defaulter.

cvd edu cess and another charges will be remain.

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