Treatment of custom duty
This query is : Resolved
CA Chinmayee Dwibedi
(Querist)
28 March 2016
What will be the accounting treatment of custom duty saved on capital goods procured under export promotion capital goods schemes??
Dr.RAMAKRISHNA. C
(Expert)
03 August 2016
Can you please elaborate your question considering capital goods imported under EPCG scheme are assessed to nil rate of customs duties subject to an export obligation equivalent to 6 times of duty saved on capital goods to be fulfilled in 6 years reckoned from the date of issuance of authorization.
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