CVD

This query is : Resolved

C.A. Awdhesh Singh (Querist)
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23 April 2009 Dear friends

One of my client is engaged in trading and warehousing of imported goods subject to custom duty. (CVD)

Now he wants to clear some of his old stock and wants to pass on same amount of duty as he has paid on import around 2 yrs before when rate of duty was higher. Now rate of duty has been significantly reduced so what rate of duty should the trader charge on its invoice whether at original rate or at current rate?

Brij Bhushan Sangal

Brij Bhushan Sangal (Expert)
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24 April 2009 Onlu current rates will apply.

Rajesh Kumar

Rajesh Kumar (Expert)
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24 April 2009 If he is a registered dealer, he can pass on the duty actually paid at the time of import. Subsequent reduction in duty is irrelevant in passing on credit.

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