Hey guys... Can any one tell me the difference between CVD and BED of excise duty???
Hope i get clear through this forum... Thank u in advance guys...
3 Replies
SAURABH
(AUDIT HEAD)
(52 Points)
Replied 22 May 2010
BED IS LEVY ON PRODUCED/MANUFACTURED ON DOMESTIC GOODS AND ALSO CALLED CENVAT WHEREAS CVD IS LEVY ON IMPORTED GOODS SO THAT DOMESTIC INDUSTRIES COULD NOT SUFFER THE LOSSES (DUE TO LOW PRICE OF IMPORTED GOODS).
RAMA KRISHNA
(Sr.Executive - Accts & Preparing for IPCC)
(670 Points)
Replied 22 May 2010
Deepika
As told Mr.Saurabh
CVD stands for CounterVeiling Duty. It is applicable to goods imported in the country, whereas Excise duty is charged on the goods manufactured in the country.
who had paid CVD on imported goods is allowable to take credit, but BCD (Basic Customs Duty) is Not allowable as like CVD.
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