12 January 2015
Noted:When a product is imported, Custom duty is paid and CVD is also paid to avoid the hike in price of domestic products due to excise and VAT. CVD is two type. One is Basic Excise Duty(BED, instead of excise duty) and another one is Additional duty(AD, instead of VAT). Manufacture concern which imports input material from foreign country can avail CENVAT Credit of CVD while paying excise duty after manufacture.
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