Reversal of duty on impored goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 February 2015
Hello Sir,
My query is regards to Purchase Return of Imported goods. Do I need to reverse credit available if I return the imported goods. Since duty is paid at port and not to party so will that be an expense for me? Since I have Paid duty at the time of Importing goods (CVD + Sp. CVD). I cant debit the party for same?
My query is regards to Purchase Return of Imported goods. Do I need to reverse credit available if I return the imported goods. Since duty is paid at port and not to party so will that be an expense for me? Since I have Paid duty at the time of Importing goods (CVD + Sp. CVD). I cant debit the party for same?
Arun Kumar Singh
(Expert)
08 February 2015
You have paid the duty at the time of import of goods then you can take the cenvat credit of CVD and SAD.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GSTR9 Annual Return
- Ito add credit side of bank
- Employee secondment
- Rent agreement of House of deceased person
- Gift to nri relatives resides in usa
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Applicability of tax on invoice
- Form 144 TDS Return Validation Error – Mandatory Fields
- LLP audit and disclosure
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
