Import of bags

This query is : Resolved

harcharan singh (Querist)
Follow

13 September 2014 Dear Sir,
Our company is importing bags from abroad on which there is duty of 26% (10% basic, 12% CVD and 4% Spl CVD).
Can you please confirm if any of these duty is adjusted with VAT if the products are sold further and What are the compliance's to be done for claiming this like IEC code required etc.
For initial 20 lacs there is no VAT so for that sales can we keep this input in our books also.

ASHOKKUMARSAINI

ASHOKKUMARSAINI (Expert)
Follow

14 September 2014 you can take refund of 4% sad from related port.

harcharan singh

harcharan singh (Querist)
Follow

15 September 2014 So you mean nothing can be done about 12% CVD. As per me this is in spirit of sales tax as if we purchase from local sellers they have to charge 12% sales tax.
So this should be sttled with our outgoing sales tax

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

rajeev koolwal

Shakthi

BABUSHANKAR BASAPPA

ANJANA PALIYATH

NIKHIL GUPTA

Subscribe Now

Import of bags

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA