Shivani (Learner) (1881 Points)
19 October 2016Dear Friends
BCD is still going to be there when GST comes.
My question is
Who pays BCD?
Does anyone get credit of BCD?
If after importing, the goods are exported by the imported, then is there any refund of BCD available?
please explain with help of example above 3 questions?
regards
shivani
samar
(business)
(22 Points)
Replied 08 December 2016
yes BCD will remain even after GST comes in force.
BCD is basically duty to prevent other counties to dump cheap goods in india and it is sort of mechanism to safeguard indian companies and keep a level playing field for indian manufacturers.
there is no credit for BCD and it is always calculated in cost for purchase and it cannot be claimed. it is basic raw material or input cost.
if goods imported for reexport you get DEPB special import licence where BCD is exempted against gaurantee of re export.
i hope the above answers your all questions
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
