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TMI BlogPAYMENT OF DUTY & TAX FOR SCRAP QTY OVER DUTY FREE IMPORTED GOODSX X X X Extracts X X X X X X X X Extracts X X X X ..... PAYMENT OF DUTY & TAX FOR SCRAP QTY OVER DUTY FREE IMPORTED GOODS X X X X Extracts X X X X X X X X Extracts X X X X ..... ayable on the overall value of scrap qty to be disposed in DTA. The percentage of duty payable is as per rate prevailing at the time of disposal of scrap. Please confirm if my opnion is correct. Reply By CHANDRU RAMACHANDRAN: The Reply: Those who have any opinion/knowledge about this issue may please throw in your inputs for better understanding, as quickly as possible. Reply By Shilpi Jain: Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Reply: Yes, the duty would be payable... However, no duty would be payable if the scrap is destroyed after intimation. Reply By Shilpi Jain: The Reply: The destruction should happen within the unit Reply By CHANDRU RAMACHANDRAN: The Reply: Thanks for your revert Ms Shilpi Jain. By the way, I would like to get it confirmed whether the tax payable is based on the value of transaction for whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the scrap is to be sold in DTA (or) the value at which the inputs were imported at duty free. Would be thankful if you could post your opinion on this aspect as I believe that it should be based on the value of transaction of scrap to be disposed in DTA. Reply By Shilpi Jain: The Reply: In case the scrap is arising out of goods which are manufactured and exported then the value will be the val ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue at which the scrap is sold
Reply By Shilpi Jain:
The Reply:
Incase the scrap is arising out of goods which are manufactured and domestically cleared the value on which the duty would have to be paid would be the value of the imported goods X X X X Extracts X X X X X X X X Extracts X X X X
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