TaxTMI 
TaxTMI 
whether refund 4% SAD can be allowed by customs when the balance sheet does not show as " refund receivable".
4% SAD - unshown in balance sheet
14 Dec 2008 
1 Reply 
1640 Views Asked by
Special additional duty refund may be permitted if invoice declares no cenvat credit, even without balance sheet entry.
Showing the amount as a "refund receivable" in the balance sheet evidences that the special additional duty burden was not passed to the buyer. Compliance with the notification's invoice requirement-an express statement that no cenvat credit is available for the SAD-constitutes a separate condition for claiming refund and may suffice even if the balance sheet lacks a refund receivable entry. (AI Summary)
Showing the amount as a "refund receivable" in the balance sheet evidences that the special additional duty burden was not passed to the buyer. Compliance with the notification's invoice requirement-an express statement that no cenvat credit is available for the SAD-constitutes a separate condition for claiming refund and may suffice even if the balance sheet lacks a refund receivable entry. (AI Summary)