Imports

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2010 We are a 100% owned subsidiary company of an S.Korean Company..

We are importing from our parent company from s.korea and selling to our authorised distributors

i want to know that wheather we have to register with Excise department.

How can i get the set off for CVD

Kamal Aggarwal

Kamal Aggarwal (Expert)
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08 February 2010 As a trader, you are not bound to obtain an excise registration. However, in case your customers want to avail credit of CVD, you would have to obtain an excise registration as a "First Stage Dealer". In such a situation, you can transfer the CVD paid by you on your imports. However, in such a case, your customers would become aware of your import price.

This structure has other indirect tax implications as well such as your import price would have to be examined by Special Valuation Branch of Customs. Please take care of this.