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VAT / CST on DEPB

This query is : Resolved 
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(Querist)
23 March 2009 We intend to clear our custom duty obligations through DEPB.

Whether DEPBs are subject to VAT or CST? If yes, what are the prescriber rates?

Can VAT paid for DEPB be used as input credit?
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
23 March 2009
When you are importing the goods vat or cst will not come. Beacause these are applicable when sale is made. When you import it will be treated as purchase from out of country and therefore vat or cst is not applicable. However certain states will charge entry tax and that paid entry tax can be adjsusted against vat if you sell in the same state and if you sell out of state you can claim refund of entry tax.
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BeyondConsultants

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BeyondConsultants (Expert)
30 March 2009 Are you planning to buy DEPB licenses from market?

Please clarify

Nikhil
Beyond Consultants
beyondconsultants@ymail.com
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Rahul Mittal

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Rahul Mittal (Querist)
30 March 2009 Yes. We are buying DEPB license from market regularly.
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Abuzar Azmi

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Abuzar Azmi (Expert)
20 November 2009 If you are buying DEPB licence from the market you have to pay CST/VAT as applicable to u on each purchse.
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