Tax planning by way of SFIS used agst custom duty liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2010 Please tell me whole procedure of SFIS credit taken and utilization of SFIS agst the custom duty liability?
What is limit export to avabil the the credit of SFIS?

How SFIS credit save our custom duty liability

How we make the accounting entries for these transaction.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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23 July 2010 Respected Anonymous,

it seems you are service provider.

ministry of commerce providing this facility for hotels and service provider.

PROCEDURE:-

AS PER DGFT GUIDELINES, "HOTELS" AND SELECTED SERVICE PROVIDERS WILL AVAIL THIS FACILITY WHEN THEIR FOB WILL AS SPECIFIED .

10% AND 5&, BENEFIT WILL AVAIL OF THEIR FOB. HOTELS AND SERVICE PROVIDERS.