Import duty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2011
Dear sir,
we are manufacturer of ferro chrome and have imported some raw mat. during 2009-10,and taken credit of import duty.
now i wanted to know that whether we can use the same credit agnst excise duty payble.
we are manufacturer of ferro chrome and have imported some raw mat. during 2009-10,and taken credit of import duty.
now i wanted to know that whether we can use the same credit agnst excise duty payble.
Preety Parik
(Expert)
22 August 2011
Only Countervailing duty( CVD *10.3%) and additional duty of excise (4%) paid on imports are eligible for credit against excise duty, Custom duty paid on imports is not eligible for credit.
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