Dear Members,
As per Notification No.102/2007-Customs dated 14-09-2007, an importer is eligible to claim refund on sale of such goods.
However, as per the clarifications given a certificate from CA needs to be furnished wherein the CA has to ensure satisfaction that credit is not passed on to the buyer for which the importer is claiming refund. It is also said that the intention of the Government is not to allow the importer to recover customs from the buyer and to claim the refund from Customs.
In the sale invoice, value will be shown inclusive of profit etc., Hence, the importer will always justify that the value is not inclusive of duty but profit is added to the basic purchase value.
In view of above, I would like to know whether ensuring that the credit is not passed on to the buyer (by verifying the invoice) will be sufficient for CA before the certifying the refund amount.
Regards
Dharmaraju
CAclubindia
