Import duty credit on machinery.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 December 2011
Dear Sir,
We have Purchased machinery form china and paid Import duty. can i taken credit in regular register of RG-23 C Part-II ???
Kindly help.
Thanks & Regards,
Rajendra
We have Purchased machinery form china and paid Import duty. can i taken credit in regular register of RG-23 C Part-II ???
Kindly help.
Thanks & Regards,
Rajendra
Anshu Budhia
(Expert)
12 December 2011
Yes, you can take credit of the excise duty and additional duty, CVD and not custome duty.
However, follow the rules of RG 23C (now the registers are abolished), take 50% credit in CYr and balance in next year.
However, follow the rules of RG 23C (now the registers are abolished), take 50% credit in CYr and balance in next year.
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