on 04-19-2008 12:38 PM
Hi all
we have got one problem regarding Additional Custom Duty(ACD)
when we do the MIGO-J1IEX for "Capital goods and Asset" the system show 100% Credit Availed for ACD all other duties are coming ok
Like
Duty Type Credit Availed Credit Due
BED (CVD) 50% 50%
ECS (CVD) 50% 50%
SECS (CVD) 50% 50%
ACD(Additional Cut Duty) 100% --
we want Credit availed for ACD should be 50% and 50% should go to Credit due
how should we do
Thanks in advance
Edited by: JAM SAP on Apr 21, 2008 6:38 AM
Hi
can anybody please give the clue regarding this problem
please...........
Thanks
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Hi
what the system is showing correct.You cna avail hundred percent credit on the ACD in the first year itself.
regards
vithal
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Hi,
A new imports duty, Additional Duty of Customs - ADC, has been introduced with the Budget 2006-2007. As per the law, it is allowed to take 100% of credit for ADC for capital goods in the first instance, unlike other excise duties for capital goods. For all other excise duties for capital goods, it is required to take only 50% of the duty credit and the remaining after a certain period of time through the transaction J2I8.
Ask your client to re-check the legal notification.
Regards,
Sandeep
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