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Refund of Additional duty of customs

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(Querist)
08 April 2008 Hi,

I have the following query:
GOI vide notification ref:

https://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k7/cs102-2k7.htm

has announced refund of Additional duty of customs, on meeting certain conditions. Now, i am an importer-trader. I import goods which are liable for Addl duty of customs @ 4%. Should i add this as part of my inventory cost? Or should i treat it as a receivable?
(Please refer the above link for the full text of the notification)
My Doubt i cannot treat this as a receivable, as there is no certainty. I am eligible to file for a refund only on satisfying the given conditions.

If i load this with my inventory, Will I not be eligible to claim REFUND because of Principles of Unjust enrichment? (Sec.27 of Customs Act).

Please guide.

Thanks / Vijay
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
14 December 2012 Yes, You Cannot Treat It as Part of Inventory.
Since Its Refundable.
Treat It as Current Asset receivable.
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
14 December 2012 Read With This Notification.

https://www.cbec.gov.in/customs/cs-circulars/cs-circulars08/circ06-2k8-cus.htm
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