Excise

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 February 2013 what is SAD and CVD IN EXCISE on which items they levied SAD,CVD and can we claim credit if yes how? please it's urgent

CS, Deepak Pratap Singh

CS, Deepak Pratap Singh (Expert)
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13 February 2013 SAD, is Special Additional Duty on imported goods and equivalent to VAT on goods in India. You can get refund of SAD on sale of good

Additional customs duty :- equal to central excise duty leviable on like goods produced or manufactured in India. Additional duty is commonly referred to as Countervailing duty or C.V.D. It is payable only if the imported article is such as, if produced in India, its process of production would amount to 'manufacture' as per the definition in Central Excise Act,1944. Exemption from excise duty has the effect of exempting additional duty of customs.

Querist : Anonymous

Querist : Anonymous (Querist)

13 February 2013 thank you sir

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