Please tell me, about Excise invoice contains which is for machinery manufactured at out of country and purchased from subsidery company in maharashtra.
A. Basic customs duty @ 7.5%
customes duty cess 2%+1%
B. Basic CVD @ 10%
cess on CVD 2%+1%
C. A+B = Excise duty
Excise duty cess 2%+1%
In above calculation which duties are refundable.
I Think it will (Basic CVD 10% +Ec+SHEC)which is equivalent to Excise Duty on that product in India.
Credit of BCD is not allowed. I have doubt whether the credit of EC & SHEC paid on total Custom Duty is allowed or not.
waiting 4 others comments.
Basic CVD 10% +Ec+SHE Cess) is only CENVATABLE,
Cusomts duty (BCD) and Customs Cess (2+1%) on BCD is not CENVATABEL.
Regards,
Sanjay Sharma
thanks MR Sanjay..
Vishal & sanjay both r right........
hey
if smone is engaged in transporting business n for dat some trucks are purchased.den hw can v adjust the excise duty paid on such trucks.n the services wich r provided r not liable to any tax n d assessee doesnt hv any oder business.
pls rply if ny1 has ny idea
| Originally posted by : nidhi goel | ||
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hey if smone is engaged in transporting business n for dat some trucks are purchased.den hw can v adjust the excise duty paid on such trucks.n the services wich r provided r not liable to any tax n d assessee doesnt hv any oder business. pls rply if ny1 has ny idea |
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input credit not possible if the output services are exempted.
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