Custom Duty CVD

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I want to know if the Special Additional Duty paid to customs can be taken a set off towards excise duty payable for the particular month? or if the CVD paid can be taken set off towards excise duty? there are articles that SAD can be setoff towards VAT / Sales Tax. so SAD to be adjusted against Excise duty or VAT. confused.. if possible can anyone send excel working of Excise duty and setoff during import duty payment.


Attached File : 24 book1.xls downloaded: 1190 times
Replies (8)

Hi, J.Soni,

I have seen ur Excel file, you have accounted correct, SAD duty set off only for payment of Excise Duty, any how pl.find enclosed attachment;

it shows what duties are eligible in Bill of Entry, what are the Cenvat Credit A/C and PLA A/C.



Thanks a lot, was confused but now i am sure. will help me in future calculation. Thanks..

Dear all,

i have a qurey about CVD.

we are a medical manufacturing unit. we import Raw material and paid 29.28% additional import duty on import value. My question is can we taken input credit of above duty paid wtih excise payble on final product removed from our factory.

 

if Yes, then how many amount will be adjusted. please reply on this matter. its urgent. if any detail is avaible then also provide me.

 

AMIT MUNDRA

 

Dear Amit,

suppose your product basic value is 150000/-  and your product Customs duties comes under  5% cus.duty +2% edn cess+1% SH Edn cess thease are non Cenvatable. and CVD is 12% and SAD is 4% CENVATABLE it may be utilised to setoff aganst Excise duty liability. shown %'s are example, it may vary according to your product.

PLEASE  FIND ATTACHMENT & CLARIFY CESS ADJUSTMENT. MOST URGENT

Dear Saravanan,

Always Method 2 is correct ,

How can you debit more amount , as available amount is less?

Thank U sir, somebodies told, in PLA payment cess to be paid in what acutual deposit in PLA A/c. That is I deposit Rs 100000 related cess 2% = 2000/- cess 1% = 1000/- only. not paid cess excess or lower. It is correct. If correct how i adjust method 2.

Can SAD be used to set off against VAT / CST Liability.


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