Set off of customs u/s 3(1).3(5) with excise duty
This query is : Resolved
26 June 2012
is it possible to Set off of customs duty paid u/s 3(1).3(5) with excise duty
26 June 2012
Yes, it can be set off against the excise duty since it is also the excise duty and corresponding output excise duty is not possible.
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26 June 2012
if comapny is a manufacturing company and paying excise duty then it possible to set off custom duty under sec 3(1) and 3(5).
However, if company is trading company and paing vat/cst then the company is eligiable to claim the reund of custom duty paid u/s 3(5) from custom deptt.
However, if company is trading company and paing vat/cst then the company is eligiable to claim the reund of custom duty paid u/s 3(5) from custom deptt.
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