R & D Cess on Import of Technical Know-How
This query is : Open
08 February 2011
Dear sir,
Our company is importing technical know-how from Germany.
1. Do the company need to pay R&D Cess @ 5% on import of technical know-how? Are there any exemptions from this levy?
2. As per my understanding Cenvat credit of Service tax paid (@ 5.30%) can be taken. But is it anyway possible to take Cenvat credit / Refund of the R & D Cess paid? Please provide procedure to claim the same
Please provide copy of the R&D Cess Rule, if possible.
Our company is importing technical know-how from Germany.
1. Do the company need to pay R&D Cess @ 5% on import of technical know-how? Are there any exemptions from this levy?
2. As per my understanding Cenvat credit of Service tax paid (@ 5.30%) can be taken. But is it anyway possible to take Cenvat credit / Refund of the R & D Cess paid? Please provide procedure to claim the same
Please provide copy of the R&D Cess Rule, if possible.
09 February 2011
DEAR PRIYANK, please search for R&D Cess. in google.com, its called Abatement R & D Cess of, can be taken in calculation of Service tax on import of services.
DEAR PRIYANK, please search for R&D Cess. in google.com, its called Abatement R & D Cess of, can be taken in calculation of Service tax on import of services.
09 February 2011
Dear Vipin sir,
Thanks for your reply. I could not find any relevant material or case law for R&D Cess on Google.
My query is that, is the company paying R & D Cess can claim CENVAT credit for R & D Cess paid against its Excise / Service Tax Liability?
Further, the transaction is one off transaction. The compnay is importing technical know-how for manufacturing of 3 kinds of products. There are no other arrangements between the companies. Does the transaction still falls within the term "Foreign Collaboration"?
Thanks for your reply. I could not find any relevant material or case law for R&D Cess on Google.
My query is that, is the company paying R & D Cess can claim CENVAT credit for R & D Cess paid against its Excise / Service Tax Liability?
Further, the transaction is one off transaction. The compnay is importing technical know-how for manufacturing of 3 kinds of products. There are no other arrangements between the companies. Does the transaction still falls within the term "Foreign Collaboration"?
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