TRANSFER OF ACD AND CVD TO GST, Goods and Services Tax - GST

[sachin shilamkar]

What are the provisions under GST for transfer of ACD and CVD paid by the importer/dealer on the closing stock which will transfer to GST on 1st July when GST will get implemented.

What records need to be maintained and how to apply for the same.

Regards

Sachin

Posts / Replies

[Rajagopalan Ranganathan]

Sir,

According to Explanation 1 & 2 appended to Section 140 of CGST Act, 2017 " eligible duties" means-

the additional duty leviable under sub-section (1) of section 3 of the Customs Tariff Act (CVD), 1975 (51 of 1975.);

(iii) the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, 1975 (SAD) (51 of 1975.);

Therefore you can transfer ACD and CVD paid by the importer/dealer on the closing stock which will transfer to GST on 1st July when GST will get implemented.

[KASTURI SETHI]

I support the views of Sh.Ranganathan, Sir.

[GORAKHNATH KHARADE]

sir

What Position of Custom Education Cess & Higher Custom Education Cess on our Cenvat Account

is there possible to get return because we are not able to untilise this amount .

Gorakhnath Kharade

9920200983

[ATUL JINDAL]

With regards to ACD / SAD refund, please advise what will happen to the SAD Refund files which would be pending with Customs Department for refund as on 01st July, 2017

Regards,

(Atul Jindal)