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TMI Bloghow to credited import duty ?X X X X Extracts X X X X X X X X Extracts X X X X ..... how to credited import duty ? X X X X Extracts X X X X X X X X Extracts X X X X ..... no.3 * Edu. Cess on CVD @2% * SHE. Cess on CVD @1% * Total of item no.2+4+5 + 6 * Customs Edu. Cess @ 2% on item no.7 * Customs SHE. Cess @ 1% on item no.7 * Total of Items 1+2+4+5+6+8+9 * Adl. Duty @ 4% on item no. 10 * Total Duty (2+4+5+6+8+9+11) We have been taking Cenvat credit on item no. 4, 5, 6 & 11 i.e. CVD, Edu. Cess & SHE. Cess on CVD and Additional Duty (the prevailing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rate is 4%) This practice is being followed for years together. Please clarify whether this practice is correct. Reply By Pradeep Khatri: The Reply: Concept of customs duty calculation has been amended in 2012. Point No. 5 & 6 does not exist now. Reply By R MUTHURAJ: The Reply: Yes. You are right, but as pointed out by Mr.Pradeep, Vide Notification No. 14/2012 Customs dated 17/03/2012, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Education Cess 2% levied on CVD and the Secondary Higher Education Cess 1% levied on CVD is exempt for the calculation of Customs duty purpose.
From 17/03/2012, the Bills of Entry received will not be charged with the Education Cess 2% levied on CVD and the Secondary Higher Education Cess 1%. X X X X Extracts X X X X X X X X Extracts X X X X
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