24 November 2021
Background: Our organization is setup as a STPI unit, and we are further looking to expand the office premises. In this arrangement we are looking to enter into a lease with the landlord with an arrangement that the landlord shall assist in importing capital goods (like furniture, camera, security equipment) and we can pay rent to them over the years of lease. Few pointers in this arrangement as below. Landlord shall import the good from foreign supplier where the invoice issued by the foreign supplier will be "Billed To" the landlord; and "Shipped To" our organization. With such invoices, our organization being setup as a STPI unit shall seek approvals from STPI and Customs for duty exemption on import At the time of clearance from Customs with STPI approval in hand, our organization shall file the Bill of Entry ("BOE")under our organization IEC code . The foreign remittance to the supplier shall be made by the landlord from their AD banker within stipulated time. Therefore BOE would be filed with landlord's bank AD code mentioned.
Query: As the Bill of Entry filed under our IEC code, believe that IDPMS portal shall reflect open Bill of Entry under our IEC. As the foreign remittance will be made by the landlord, believe that the ORM report will show such foreign remittance under the landlord's IEC code. Can the Bill of Entry being filed under IEC code of our organization be "settled" with the outward remittance to foreign supplier made under the landlord's IEC code?
CAclubindia
