We are a manufacturer & exporter. We have a plan to import material handling plastic trays, bins, boxes etc. These material handling equipments used in our prouction line.
Is there any option to save import duty of the said material.
03 December 2012
yes you can apply for advance licence FROM DGFT.
An advance licence is granted for the import of inputs without payment of basic customs duty. Such licences shall be issued in accordance with the policy and procedure in force on the date of issue of the licence and shall be subject to the fulfillment of a time-bound export obligation, and value addition as maybe specified. Advance licences maybe either value based or quantity based.
Advance Licence is an export facilitation scheme, whereby, the exporter is permitted to import the input materials without payment of Customs duties and utilise them in the manufacture of goods, which are subsequently exported in discharge of the export obligation cast on such Advance Licence holder.