Duty waiver in case of goods damaged in sea transit

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Nitesh Agarwal (Querist)
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21 September 2015 Capital Goods (machinery for setup a plant) has been imported by us & duly cleared by Customs i.e. all duty have been paid. Now, on receipt of material, Part of items were found in damaged condition. There is no insurance of customs duty. Hence, Insurance Claim already lodged. foreign vendor agreed to give replacement. Damaged goods will be exported back to supplier after receipt of replacement. What will be the custom duty implications in order to replacement & export of damaged goods?

Prabhat Kumar

Prabhat Kumar (Expert)
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28 September 2015 DUTY WILL EXEMPTED IF IMPORT IS DONE FOR THE PURPOSE OF REPAIRS,RECONDITIONING,REENGINEERING ETC AND IN THIS CASE WE CAN RE EXPORT THE DAMAGED PART.