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IN GST TRADERS CAN BENEFITS OF CVD
I am Traders. and Import from outside the India. Pay CVD on imported items. can we take benefits of CVD on Closing Stock as on 30 Jun 2017.
Replies (2)
yes.you can take the ITC but invoice or Bill of entry in with in one year from the date of invoice.
Traders are likely to be benefitted as credit of both the central and state taxes shall be available.
On imported items BCD plus IGST shall be paid. Credit of IGST shall be available to the traders. It will save loss of CVD which is happening today. It shall also save them from cumbersome provisions of SAD refund.
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