05 April 2011
Special CVD is levied to counter balance the Sales Tax/VAT for the time being leviable on a like article on its Sale, Purchase or transportation in India.
Please explain me how Spl CVD is levied on "Transportation in India".
15 April 2011
Additional Duty of Customs (ADC) - This duty is levied to countervail the sales tax, value-added tax, local taxes and other charges leviable on the like goods on their sale or purchase or transportation in India. Presently, this duty is levied at 4 per cent on certain items viz items bound under the Information Technology (IT) Agreement and on specified inputs / raw materials for manufacture of electronic / IT goods. This duty is levied on value of product +basic customs duty + countervailing duty. Education Cess - This cess is levied at 2 per cent on the amount of BCD +CVD.
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Please explain the meaning of the pharase "Special CVD is levied to counter balance the Sales Tax/VAT for the time being leviable on a like article on its transportation in India"
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