ON CYCLE THERE IS EXCISE DUTY OF 1% IS IMPOSED - SUBJECT TO NOT AVAILING OF CENVAT CREDIT. WHAT WILL BE THE CASE IN CASE OF CVD , IT WILL BY DEFUALT 1% AS CENAVT RULES ARE NOT APPLICABLE TO FOREIGN COUNTRIES.
ON CYCLE THERE IS EXCISE DUTY OF 1% IS IMPOSED - SUBJECT TO NOT AVAILING OF CENVAT CREDIT. WHAT WILL BE THE CASE IN CASE OF CVD , IT WILL BY DEFUALT 1% AS CENAVT RULES ARE NOT APPLICABLE TO FOREIGN COUNTRIES.
CVD is Equivalent to excise duty imposed if the such goods are produced or manufacured in india.
So in the current case it should be 1%.
CAclubindia
