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Import duty

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 August 2011 Dear sir,

we are manufacturer of ferro chrome and have imported some raw mat. during 2009-10,and taken credit of import duty.

now i wanted to know that whether we can use the same credit agnst excise duty payble.
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Preety Parik

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Preety Parik (Expert)
22 August 2011 Only Countervailing duty( CVD *10.3%) and additional duty of excise (4%) paid on imports are eligible for credit against excise duty, Custom duty paid on imports is not eligible for credit.

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