There is Free Trade Agreement between India and Thailand. If, the importer in India imports according to the FTA, Basic Import Duty is Zero (NIL), whether CVD, Cess and SAD is applicable in this case? Pls throw light on this.
Ramesha (Chartered Accountant) (30 Points)
01 December 2010There is Free Trade Agreement between India and Thailand. If, the importer in India imports according to the FTA, Basic Import Duty is Zero (NIL), whether CVD, Cess and SAD is applicable in this case? Pls throw light on this.
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 01 December 2010
WILL BE APPLICABLE ,
AS PER exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods of the descripttion as specified BETWEEN INDIA AND THAILAND.
FOR MORE INFO:- Notification No. 117/2010-Customs DTD. 18.11.2010
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