Hello Everyone,
I have a doubt regarding the cenvatable of Education cess paid on imported goods. The following is the case from which you will able to understand my question:
Our company is importing Raw Gold on which Basic Custom Duty is Nil & CDV is 8%.
Example: Import value of Rs.1,00,000/-
The Basic Custom Duty is NIL
The CVD will be 8000/-
The SAD is Nil
Hence the total Custom Duty is 8,000/-
The Education Cess & SHE on total custom duty is 240/-
As per Notification No 13/2012 - Custom & 14/2012-Customs whereby exempting the Edu & SHE on CVD.
The Edu & SHE charged is on total Custom Duty & not on CVD, now since in our case the total custom cuty comprieses of only CVD so whether are we eligilbe for Edu & SHE.
CAclubindia
