RE-export of imported goods on which BCD IS EXEMPTED

[Guest]

Dear Sir,

Please advise us the procedure to re-export of such imported goods on which Basic Custom Duty is exempted. Further please also advise us the credit availed of CVD and ADDl cvd whether it will be required to reverse such credit

[JSW CEMENTLIMITED]

Kindly go through the below notification No.27/2008-Customs New Delhi, the 1st March, 2008

[Raghunandhaanan rvi]

Dear Sir,

To my knowledge reversal of credit does not arise If

1. Export of imported goods under Bond / LUT without duty

2. It is settled law that export of goods are tax free

3. CBEC Circular No. 345/2/2000 TRU dated 29.08.2000 may be referred

4. You may also refer CESTAT Ruling 2016 (335) ELT 104 (Tri-Mumbai) = 2016 (3) TMI 395 - CESTAT MUMBAI in this regard.

Thanks

AI Summary

No need to reverse CVD credit on re-exported goods exempt from BCD if exported under Bond or LUT. A query was raised regarding the procedure for re-exporting imported goods on which Basic Custom Duty (BCD) is exempted and whether the credit availed on Countervailing Duty (CVD) and Additional CVD needs to be reversed. Responses indicated that reversal of credit is not required if the goods are exported under Bond or Letter of Undertaking (LUT) without duty, as export goods are generally tax-free. References were made to a specific customs notification, a CBEC circular, and a CESTAT ruling for further guidance on the matter.