Hello Members !!!
My company has built a new vessel / ship at Goa. The ship builber is Indian and our ship is registered under Indian Flag. It is now ready with all relevant Certifications & Registrations.
The ship is currently under Bond and to de-bond it, the Customs of Goa is asking us to pay CVD of 6.18% of Cost of ship.
We paying this CVD amount. But we heard that we can get a Set Off in Service Tax i.e. there is no need to pay Service Tax equivalent to the amount of CVD that we are paying.
(P.S. Regarding payment of CVD, we have transfered money in Ship Builder's A/c & they are going to pay to Customs. Also, Customs will issue Bill of Entry in Ship Builder's name).
Please advice whether we can claim Service Tax Set-off based on Bill of Entry in Ship Builder's Name or else what other Documents do we need from Ship Builder to do so ?
Pooja Naik Ajgaonkar
Orion Offshore Services
Mumbai
CAclubindia
