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?
Arun Kumar Singh
(Expert)
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.
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