Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Cvd

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

HARDIK GANDHI

HARDIK GANDHI (Querist)
Follow

04 September 2013 CAN ANYBODY EXPLAIN WHAT IS COUNTERVEILING DUTY AND HOW IT IS LEVIABLE AND WHO NEEDS TO PAY THE SAME.

CA Vijeta Verma online

CA Vijeta Verma online

(Expert)
Follow

04 September 2013 It is an addtional duty of custom that is levied in different ways to counter balance the effect of Excise duty,VAT,CST etc for the like articles produced in India. For instance, CVD3(1) is levied on the same rate as of Basic excise duty on a particular article. CVD3(3) is generally levied on stainless steel product for household purpose and transformer oil ,in order to counter balance the effect of Excise duty on these articles used as Raw material. CVD3(5) is levied on the same rate as that of VAT/CST or any other local taxes.

HARDIK GANDHI

HARDIK GANDHI (Querist)
Follow

04 September 2013 THANKS MISS VIJETA FOR YOUR HELPFUL REPLY

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now