Excise duty

899 views 2 replies

Anand

Practicing CA

190 Points Posted on 26 August 2011

Hi All

I have 2 question,

1. If one of my new client have paid wrongly paid Excise Duty on export Sales in May 2010 Excise Return ( All laster returns are also filed) , is there any way to revise that return and reduce such excise laibility and carry foward the balance as addtional balance in P L A.

2. Can we take set off of basic customs duty paid on import of Metal Sheets for produciton of Fuel Tanks ?

If yes , how can i take credit of customs duty paid in JAN , FEB & March 2011 if teh credit of the same is not taken while filing respective returns.

Thanks in advance.

Replies (2)

U S Sharma

glidor@gmail.com

21068 Points Posted on 26 August 2011

1. Exports are of two types, 1) duty paid and rebate claimed 2) under bond,

if he has exported under bond, then visit the Range officer, and state the error in return, he will edit the return and make the balance as per your statement.

2> customs duty is not allowed for input credit, but CVD is available for input credit, u can take credit from april 2011 to uptodate of CVD paid on imports/

Durga prasad Ambati

Taxation Pursuing CA

737 Points Posted on 03 September 2011

Originally posted by : U S Sharma
	1. Exports are of two types, 1) duty paid and rebate claimed 2) under bond, if he has exported under bond, then visit the Range officer, and state the error in return, he will edit the return and make the balance as per your statement. 2> customs duty is not allowed for input credit, but CVD is available for input credit, u can take credit from april 2011 to uptodate of CVD paid on imports/