TMI BlogCustom Tarriff rate for CTH 38249033 PCB Capacitor FluidX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear All, I want Custom Tarriff rates for CTH 38249033 Capacitor Fluid PCB in 2002-03. We had import 17MT in 2002-03 , it was cleared in CTH 29022902 with BCD 15% ,CVD16% and SAD 4%. Now, custom has issued notice for payment of differential duty with interest ,@ 30% peak rate at that time, as this is to be classified under CTH38249033 , So, we need Basic Custom Duty rates applicable on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8th Aug 2002. Regards, BM Goyal - Reply By raghunandhaanan r vi - The Reply = Sir, To my knowledge, customs to issue demand notice under section 28 of customs act within six months from the date of payment of duty . Otherwise the claim is barred by limitation. However, department may invoke extraordinary power to issue demand if duty short paid due to suppression of facts/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... willful act or negligence of importer. hope my view is correct. - Reply By KASTURI SETHI - The Reply = I agree with the views of Sh.Raghunandhaanan r, Sir. The department cannot go beyond 5 years. Further, it is also relevant to know whether any bond has been executed in this case ? - Reply By KASTURI SETHI - The Reply = Was there provisional assessment ? If so, the relevant date will be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the date of finalisation of assessment. Secondly, If bond has been executed, then the party has to deposit the Govt. dues i.e.differential without issuance of the SCN. - Reply By KASTURI SETHI - The Reply = Sh.B.M.Goyal Ji, For rate of duty under CTH38249033 on 8.8.2002, relevant extract of budgetary changes during 2002-03 is appended below. This can be helpful to you for further searc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h for correct rate of duty. Misc. Chemical Products ( Chapter 38 ). - (1) Peak rate of customs duty on all goods falling under the Chapter is reduced from 35% to 30%, and the preferential rates of duty, wherever they occur, are reduced accordingly. The same is prescribed in the tariff and given effect from 1st March, 2002 vide Notification No. 22/2002-Customs, 2002 . (2) The rate of basic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... customs duty on Reference Standards is increased to 5%. The exemption from Countervailing duty and SAD will continue. [ S. No. 138 in Notification No. 21/2002-Customs and S. No. 34 in Notification No. 23/2002- Customs refer ]. - Custom Tarriff rate for CTH 38249033 PCB Capacitor Fluid - Query Started By: - BRIJ MOHAN GOYAL Dated:- 12-5-2016 Customs - Import - Export - Customs - SEZ - Got 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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