NILESHKUMAR's Expert Profile

Queries Replied : 94

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krishna says : taxes on imported machinery from france
Hi nilesh ji, we are a indian company working as a dealer for one of the france based manufacturer. one of our customer has placed a order in euros and our manufacturer says these products have customs exemption. and says we have to pay some taxes in india and not being clear about it, so what would be these taxes and how much? secondly from now we want to buy ourself and sell in India in INR in such cases what will be tax needed to be charged to customer? VAT? Pls help us we are in a great problem.

Naresh Singrakhia says : export invoice
Dear Sir, we are a SEZ unit. We import drugs on re-export basis after value addition i.e. we import drugs availing duty benefit and after packaging it into patient kits we re-export. Normally we re-export on the same value on which we imported adding a foot note in the shipping bill that service invoice will be raised separetly. But at times countires like Japan wants the packaging and service cost also included in the invoice per their customs requirement. In such cases if the value is above USD 25,000 the SEZ online system requires either GR no. or GR waiver no. We cannot go for the GR no. as the AD bank says that you are not getting full remittance against the invoice value. so we have to take the GR waiver by only mentioning the import value of the drugs as stated above.Please advice how we can we handle such situation? is it okay if we assessed the shipping bill as per our invoice value and send a separate invoice to the consignee in Japan showing the packaging and service charges for their customs requirement?

Stephanie says : Currency Confusion on Export Invoice
Dear Nilesh, Could you please advise me on a very vital issue? I sent a large shipment to the US... On the invoice the amount used for each product was in USD however it said INR at top of the invoice so everything was shipped and I see now that the Shipping Bill says it is worth 20,000INR instead of 20,000USD. How do I fix this so I can get my $19,500 USD? Could you please advise me. What can be done?

surender singh says : debit note against excisable bill
sir Please can you confirm me, we received some short qty in some excisable bill,but we have taken full cenvat & qty on them in excise record ,is it right way,?? & other we issue party one debit note for short qty (of 5 invoices)with only vat tax not excise duty ?? is it ok sir....