Custom duty get back
This query is : Resolved
16 September 2012
Dear all,
Please advice me can i get a custom duty back if i export on noncommercial basis the machine which i imported 1 year ago
if yes then please inform me the procedures and required documents on my mail id
sushantbhure@gmail.com
thanks and regards
Sushant
Please advice me can i get a custom duty back if i export on noncommercial basis the machine which i imported 1 year ago
if yes then please inform me the procedures and required documents on my mail id
sushantbhure@gmail.com
thanks and regards
Sushant
17 September 2012
Dear Sushant,
You will not get draback on imported machines if you are exporting the same back in non ocmmerical value as there will FOREX loss.
Normally Customs allow CIF import value + 2%. if not the DMK is reduced to the proprotion of reduction in export value
You will not get draback on imported machines if you are exporting the same back in non ocmmerical value as there will FOREX loss.
Normally Customs allow CIF import value + 2%. if not the DMK is reduced to the proprotion of reduction in export value
23 September 2012
Thanks sir,
But then why we should reverse out Cenvat credit if we do not get Dutydrawbac from custom
But then why we should reverse out Cenvat credit if we do not get Dutydrawbac from custom
24 September 2012
YES SUSHANT, YOU CAN RE EXPORT THE GOODS UNDER SEC 74, WITHOUT REVERSING THE CENVAT CREDIT ALREADY AVAILED, THIS MEANS CVD AND SAD ELEMENT NEED NOT BE REVERSED, BCD AND CESS AMOUNT HAS TO CLAIMED BACK AS DRAWBACK , ON EXPORT OF GOODS UNDER SEC 74.
THERE IS PROVISION FOR THE SAME UNDER EXCISE MANUL, CHAPTER 5, CLAUSE NO 3.4, BCD AND CUSTOMS CESS IN SUCH CASE CAN BE CLAIMED UNDER SEC 74, PROVIDED IDENTITY IS ESTABLISHED THROUGH PART NO AND SERIAL NUMBER. THERE ARE ALSO VARIOUS CLASE LAWS TO THIS EXTENT. ANYONE HAS DIFFRENT OPINION???
YES SUSHANT, YOU CAN RE EXPORT THE GOODS UNDER SEC 74, WITHOUT REVERSING THE CENVAT CREDIT ALREADY AVAILED, THIS MEANS CVD AND SAD ELEMENT NEED NOT BE REVERSED, BCD AND CESS AMOUNT HAS TO CLAIMED BACK AS DRAWBACK , ON EXPORT OF GOODS UNDER SEC 74.
THERE IS PROVISION FOR THE SAME UNDER EXCISE MANUL, CHAPTER 5, CLAUSE NO 3.4, BCD AND CUSTOMS CESS IN SUCH CASE CAN BE CLAIMED UNDER SEC 74, PROVIDED IDENTITY IS ESTABLISHED THROUGH PART NO AND SERIAL NUMBER. THERE ARE ALSO VARIOUS CLASE LAWS TO THIS EXTENT. ANYONE HAS DIFFRENT OPINION???
24 September 2012
agreed with expert.... thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Legal heir raised refund , but refund issued to the closed account of deceased.
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- Doubt in Form AOC 4
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
