Treatment of VAT against Import duty
This query is : Resolved
21 July 2009
Kindly Inform me about Treatment-Tax of VAT if at the time of purchase Import duty is paid, then after local sale with VAT.
- Import duty refund or not
- Import duty adjust with VAT paid or not
- Import duty refund or not
- Import duty adjust with VAT paid or not
Vishnu Saboo
(Expert)
24 July 2009
Import duty is type of Excise duty which is levied in lieu of Sales Tax, but actually it's not sale tax, yes you can avail the cenvat credut for the same and can adjust against your excise duty liability.
don't mess it with Sale tax payable.
don't mess it with Sale tax payable.
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