17 September 2010
Hello friendzzz one of our client is importing goods from various countries including china now he wanna import fuel i.e.which is used to enligten stoves etc (it is wax material for burning purpose) is there any special provision in this regard??? means special licence etc is required??? plz explain the procedure to be followed now thnxxx
27 September 2010
Yes - Under customs rule all inports are dutiable. Further you have to pay back all the other benefits claimed by you on the export of goods like DEPB, Duty Drawback or Excise Rebate etc, that too with interest.
The custom duty paid is CENVATABLE.
But if you will scrap it then you have to reverse the CENAVT credit taken as scrap is not traeted as manufacture. For further clarification mail me.
CAclubindia
