dear sir,
we are importers of handtools in chennai.
we want to know if we can claim any part of custom duty paid by us in cash from custom authorities or as cenvat credit.
we are charging 4% vat on these goods.
can we setoff any part of custom duty against output tax paid by us.
kindly advice.
No You cannot claim any setoff or refund for the custom duty paid on the goods imported
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