About Rejectiton material.

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

19 December 2010 Dear all

we are the manufacturer and we export to american party but our material is rejected by the party (american) now what is the procedure about taxation.

1) when party return the material at that time the import invoice is is received
2) can we take credit on this invoice

Please

Tell me what should i do

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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20 December 2010 Goods can be re-imported within specified time limit. export incentive obtained will be recovered. Yes you can take credit of this invoice.