Imports & exports

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2013
Dear sir,
We are a Pharmaceutical Drugs Manufacturers, we are Importing Machinery item and we using of the Machinery item We Produces a P.Drug after we Exported. my Query is : if we paid the customs duty on that imports how to reclaim the customs duty amount,is there any special schemes in Customs & Excise Dept. ????

Arun Kumar Singh

Arun Kumar Singh (Expert)
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24 August 2013 You can import the capital goods under EPCG scheme without payment of excise duty.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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24 August 2013 DEAR ANONYMOUS,

first condition is here that you can purchase the import licence from Local market like

FOCUS PRODUCT SCHEME LICENCE
FOCUS MARKET LICENCE
VKGUY LICENCE
DEPB LICENCE(IF AVAILABLE , SCHEME IS ALREADY WITHDRAW BY MINISTRY OF COMMERCE.

(MUST SEE:https://www.caclubindia.com/experts/depb-withdrawal-consequences-936345.asp#.UhhdVX9Hhkg)

on the other hand if you have IEC RCMC HOLDER AS WELL AS SSI/ IEM / REGISTERED IN EXCISE CAN AVAIL THE EPCG SCHEME BUT NOTED THAT BEFORE APPLY THIS LICENCE YOU MUST EXPORT THE GOODS AFTER MANUFACTURING WITHIN THE 2 YEAR OF PROPORTION GIVEN BY DGFT.

NOTED THAT:

Export Promotion Capital Goods (EPCG) scheme allows import of capital goods including spares for
pre production, production and post production at zero duty for specified sectors and at
a concessional rate of 3% Customs duty for all sectors, subject to an export obligation ranging from 6 to 8 times of duty saved on capital goods imported under EPCG scheme, to be fulfilled in 6 to 8 years reckoned from Authorization issue-date.

Further, at time of final redemption of export obligation, authorization holder shall submit certificate from Independent Chartered Engineer confirming use of spares, tools, spare refractories and catalyst so imported in the installed capital goods on the basis of stock & consumption register maintained by authorization holder.

MUST READ:

https://www.caclubindia.com/experts/procedure-to-obtain-epcg-license--690860.asp#.UhhnA39Hhkg

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Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2014 Dear Sir,

Very Thanks for your Replay and this information would helps to me a lot....

as per the last interaction about the exports we are sending a small quantity of p.drug to our foreign party by the name of "SAMPLE" then how to show in the books of accounts ?