doubt regarding TED

This query is : Resolved 

29 December 2008 hai

when we purchase any machinery under EPCG LIC., the excise duty will be refunded, why it is done like that ?

In case of import no duty will be refund ?

can anyone clarify the above ?

regards
k.ravi

29 December 2008 To promote exports

29 December 2008 thanks


07 January 2009 At the time of import only 5% custom duty is required to be paid. CVD (equivalent to central excise duty) is completely exempted.
When such cpaital goods is purchased from a domestic supplier, after invalidation of EPCG license, only excise duty is payble- which is refunded as refund of terminal excise duty under Chapter 8 of Foreign Trade Policy.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries