WE SUPPLY GOODS TO A UNIT UNDER DEEMED EXPORT. THE PARTY'S TERMS & CONDITION SAYS THAT ' SELLER SHALL CLAIM TERMINAL DUTY BENEFIT FROM DGFT. BUYER WILL NOT CLAIM CENVAT AGAINST THIS INVOICE.
I WANT TO KNOW WHAT TERMINAL DUTY HE IS TALKING ABOUT. IS IT ON INPUTS OR FINISHED GOODS.
Terminal duty is the duty paid on the finished goods supplied to SEZ/EOU which isshown in the invoice butnot recovered from the buyer. This duty is refunded by DGFT Please refer Chapter 8 of export/iprt procedure.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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