Imported goods in dvat-16

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Aarya (Querist)

15 October 2013
Mr. X resident of Delhi, India imported goods from USA for USD 50000. When the goods were booked exchange rate is RS.55 but when the letter of credit is opened the exchange rate is Rs.60. Custom duty 200000+ additional duty. Now:-

(1) In what column and at what amount goods imported is shown in dvat return. Does it include custom duty also.

(2)When Mr.X sells this goods locally or make Inter state sale then is normal dvat and cst rules and rates are applied or are there any special provision for sale of imported goods?

(3) I have read somewhere that custom duty is not used for input tax credit. Is this true?

Sorry for asking too many questions in one query but its urgent. Thanks in advance.

CA UMESH DULAL

CA UMESH DULAL (Expert)

18 October 2013 1. fill the amount under goods imported from outside india and fill the amount you have paid (rate should be at the time of payment and custom duty and any other duty should be included)

2. There is no special provision for imported goods.

3. Yes, you are right that no input on custom duty paid

Aarya

Aarya (Querist)

23 October 2013 Thank you very much sir.

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