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Cvd
Hello everyone,
I'm going to import certain goods which are not manufactured or produced in india. Now customs will levy only Basic duty or basic duty + CVD? Please clarify me if the answer is basic duty +CVD
Thanks in advance .
Replies (4)
CVD is leviable on items which could be or which are capable of being produced/manufactured in India. So as i understand, just because such items are not manufactured in India, I dont think CVD would be exempted.
If the same goods manufacture in India or Produce in India than CVD applicable otherwise it will not chargeble. It is like excise duty. Only BCD applicable.
Duty levied under section 3(1) on those similar article Which produce and manufacture in india .
If such goods are not manufacture in India then no such duty will be levied...
As per custom rule following duty shall be levied on imported good
Basic cuatom duty
+ CVD u/s. 3(1) may be 8%
+ 4% SAD u/s. 3(5)
+ 2% cess
as above duty shall get back 4% SAD similry to VAT
.
+
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