MEGA POWER PROJECT-CVD EXEMPTION

[swati rastogi]

Hi,

i am handling a mega power project , in case of mega power project against ICB , the custom duty is exempt as well as excise duty.

but the custom duty is exempt only in case CIF content is available in the project.

now in my project the CIF content is not available, so full custom duty will be levied.now my question is whether the CVD will also be applicable at full rate or since excise duty is exempt for Indian vendors for this project so CVD will also be applicable with nil rate

Thanks & regards

Swati

AI Summary

Mega Power Project Faces Full Customs Duty Without CIF Content; Queries on Countervailing Duty Exemption Arise A participant handling a mega power project inquired about customs duty exemption, noting that while such projects typically enjoy exemptions on customs and excise duties, the exemption applies only if the project includes CIF content. Since their project lacks CIF content, full customs duty is applicable, prompting a question about the applicability of the Countervailing Duty (CVD). Responses suggested that if excise duty is exempt, CVD should also be exempt, referencing specific notifications and a circular for further guidance.