Hello,
I am a dealer in Mumbai(Maharashtra in India). I imported goods from China assessable value of which is Rs.94680.3 On it I paid Basic Customs Duty(BCD) of 10% i.e. Rs. 9468. Counter Veiling Duty of 12497.8 i.e. @ 12% of (104148.3) was also paid. Apart from this, Cess and additional duty of imports was also paid. Hence total of Customs Duty was 27317.
In addition to this, Octroi was paid on total of Assessable Value and Customs Duty i.e. on 94680+27317= 121997 @ 5.5% which is 6710.
Now, if I sell these goods locally in Maharashtra, can I claim set-off i.e. input credit of any or all of these duties?
CAclubindia
