World bank funded project - excisable or not?

966 views 1 replies

CA Prateek Garg

Consultant

149 Points Joined June 2012

Dear friends,

I am working on a world bank funded project. Please tell me is there any excise duty payble by me to vendor for purchase of material or it is exempt due to its a world bank project. Plz clarify. If there is any circular regarding this then plz provide.

Thanks Prateek Garg

Replies (1)

Prabhat Kumar

Advocate & Consultant

1912 Points Joined July 2009

Sice your project has been financed by an International organisation(World Bank),you are entitled for the exemption with certain conditions.The relevant Notification is 108/95-C.E dated 28.8.1995.