The Central Board of Excise & Customs
(CBEC) has stated that exporters
cannot claim exemption from the
special 4% countervailing duty (CVD)
on imports. The CVD cannot be
debited through the duty-free
credit entitlement scrips under export
promotion schemes namely DEPB,
Serve-from-India, Target Plus,
visesh krishi upajyojana etc.
The CVD was imposed on most
imports in Budget 2006-07, in lieu
of value added tax (Vat) on
domestic goods.
Exporters, however, will be free to
take credit for the duty paid, in
keeping with the principle of
Cenvat chain.
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