Sale of machinery imported under 0% epcg scheme
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2013
In previous year (2012-13) we have purchased imported machine from China under Zero EPCG Scheme.
We are going to sale-out the such machine now in domestic market.
As per lincence condition we have completed Export Obligation and applied for redemption.
In response to that we have received Licence Redemption Letter from DGFT, as well as Cancelled Bond from Customs which was executed in Customs while lincence registered at customs.
Considering to the above facts please guide us about that Central Excise Duty should be applicable against the said transaction or not.
We are going to sale-out the such machine now in domestic market.
As per lincence condition we have completed Export Obligation and applied for redemption.
In response to that we have received Licence Redemption Letter from DGFT, as well as Cancelled Bond from Customs which was executed in Customs while lincence registered at customs.
Considering to the above facts please guide us about that Central Excise Duty should be applicable against the said transaction or not.
24 December 2013
No need to pay excise duty at the time of sale of goods if you have fullfiled the export obligation.
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 December 2013
Can you suggest us reference notification under CE/Customs act.
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