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

Know abour cvd

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2013 what is cvd and its meaning

CA Vijeta Verma

CA Vijeta Verma (Expert)
Follow

02 August 2013 See, CVD stands for counterveiling duty.
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.

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