We are the customers of a foreign company which imported us their products last year. They have now decided to change the goods with the newer version of the goods and therefore, we have to send back to them the goods already imported. They now want to re-import the newer version of the goods. We want to know whether there is any exemption to pay custom duty on re-import of the newer version of the goods.
15 January 2009
Well, you need to send back (export) the goods you imported. In that case, at the time of export you can examine the possibility of claiming drawback on the export of goods under Section 74 of the Customs Act. When you will import new version of goods, appropriate amount of duty is to be paid.
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