Go AD-Free with CAclubindia Pro and get Daily WhatsApp Updates. Subscribe Now!

Cvd on rsp based valuation: latest rule

4075 views 1 replies

Vivek A

Operations

28 Points Joined September 2012

Dear all

I was informed by our CHA that there has been a change in Customs Rule effective from June 2012, and every imported item will now be valued under RSP for CVD calculation. Earlier, this mode of calculation was used only for specific products.

I am surprised because i was not able to find any detailed information on such a circular or notice.

Can anyone confirm whether CVD will now be calculated under RSP valuation for all imported items, or is it only for few items as it was earlier?

Replies (1)

Rama Krishnan

MBA

571 Points Joined August 2012

Dear Vivek,

CVD will be payable on MRP less abatement for selected products/ items listed in the Excise notification to this effect. You may pl refer notification no 49/2008of Central Excise( NT), ammended till date and check whether your product / item is listed in it. if so then you have to pay CVD on MRP less batement. Abatement % is also written in the same notification. thanks