Custom duty get back
This query is : Resolved
16 September 2012
Dear all,
Please advice me can i get a custom duty back if i export on noncommercial basis the machine which i imported 1 year ago
if yes then please inform me the procedures and required documents on my mail id
sushantbhure@gmail.com
thanks and regards
Sushant
Please advice me can i get a custom duty back if i export on noncommercial basis the machine which i imported 1 year ago
if yes then please inform me the procedures and required documents on my mail id
sushantbhure@gmail.com
thanks and regards
Sushant
17 September 2012
Dear Sushant,
You will not get draback on imported machines if you are exporting the same back in non ocmmerical value as there will FOREX loss.
Normally Customs allow CIF import value + 2%. if not the DMK is reduced to the proprotion of reduction in export value
You will not get draback on imported machines if you are exporting the same back in non ocmmerical value as there will FOREX loss.
Normally Customs allow CIF import value + 2%. if not the DMK is reduced to the proprotion of reduction in export value
23 September 2012
Thanks sir,
But then why we should reverse out Cenvat credit if we do not get Dutydrawbac from custom
But then why we should reverse out Cenvat credit if we do not get Dutydrawbac from custom
24 September 2012
YES SUSHANT, YOU CAN RE EXPORT THE GOODS UNDER SEC 74, WITHOUT REVERSING THE CENVAT CREDIT ALREADY AVAILED, THIS MEANS CVD AND SAD ELEMENT NEED NOT BE REVERSED, BCD AND CESS AMOUNT HAS TO CLAIMED BACK AS DRAWBACK , ON EXPORT OF GOODS UNDER SEC 74.
THERE IS PROVISION FOR THE SAME UNDER EXCISE MANUL, CHAPTER 5, CLAUSE NO 3.4, BCD AND CUSTOMS CESS IN SUCH CASE CAN BE CLAIMED UNDER SEC 74, PROVIDED IDENTITY IS ESTABLISHED THROUGH PART NO AND SERIAL NUMBER. THERE ARE ALSO VARIOUS CLASE LAWS TO THIS EXTENT. ANYONE HAS DIFFRENT OPINION???
YES SUSHANT, YOU CAN RE EXPORT THE GOODS UNDER SEC 74, WITHOUT REVERSING THE CENVAT CREDIT ALREADY AVAILED, THIS MEANS CVD AND SAD ELEMENT NEED NOT BE REVERSED, BCD AND CESS AMOUNT HAS TO CLAIMED BACK AS DRAWBACK , ON EXPORT OF GOODS UNDER SEC 74.
THERE IS PROVISION FOR THE SAME UNDER EXCISE MANUL, CHAPTER 5, CLAUSE NO 3.4, BCD AND CUSTOMS CESS IN SUCH CASE CAN BE CLAIMED UNDER SEC 74, PROVIDED IDENTITY IS ESTABLISHED THROUGH PART NO AND SERIAL NUMBER. THERE ARE ALSO VARIOUS CLASE LAWS TO THIS EXTENT. ANYONE HAS DIFFRENT OPINION???
24 September 2012
agreed with expert.... thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Invertaded duty struture
- Capital gain on sale and purchase of plot
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
