Reversal of duty on impored goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 February 2015
Hello Sir,
My query is regards to Purchase Return of Imported goods. Do I need to reverse credit available if I return the imported goods. Since duty is paid at port and not to party so will that be an expense for me? Since I have Paid duty at the time of Importing goods (CVD + Sp. CVD). I cant debit the party for same?
My query is regards to Purchase Return of Imported goods. Do I need to reverse credit available if I return the imported goods. Since duty is paid at port and not to party so will that be an expense for me? Since I have Paid duty at the time of Importing goods (CVD + Sp. CVD). I cant debit the party for same?
08 February 2015
You have paid the duty at the time of import of goods then you can take the cenvat credit of CVD and SAD.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- Putting a heading on received mail
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Experts need help
- EPF FULL & FINAL RULES IN 2026
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
