Goods and Services Tax – Started By: – Ramaswamy S – Dated:- 11-8-2017 Last Replied Date:- 12-6-2018 – As per DGFT TN dated 30.06.2017 read with Customs Notification 59/2017, the EOU needs to pay back the customs duty foregone on DTA clearances. The exemption allowed under 52/2003 is withdrawn in Notification 59/2017. Whether the EOU needs to pay the customs duty on Transaction Value of clearance of scrap or they need to repay the duty foregone proportionately. Secondly, when the customs duty at the full rate is payable on the DTA clearances, whats the need for fixing the Norms. The Norms has lost its sanctity. Request the experts views Regards S.Ramaswamy – Reply By RAMESH PRAJAPATI – The Reply = As I understand, on imports BCD exemption
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
committee. Otherwise BCD on inputs is required to be paid. – Reply By Abhijeet Bandal – The Reply = Query : As per amended exemption notification, there is no need to pay back the BCD on inputs used in process related to waste, scrap if it is within SION or as per norms approved by norms committee. Otherwise BCD on inputs is required to be paid. Reply: As per para 6.08 (a) (v) of FTP 2015-20 there is no such provision to prevent BCD reversal on scrap or waste sale in DTA, if it is within SION or as per norms approved by norms committee. The relevant para of FTP is attached for your ready reference; 6.08 DTA Sale of Finished Products / Rejects / Waste/ Scrap / Remnants and By-products; (v) The DTA sale by EOU/EHTP/STP/BTP units shall be subj
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =