Hi.
We are going to start Importing the Inputs from US/UK. to our manufacturing plant in pune. with custom duty clearance.. Now while exporting the FG on duty payment what benifits can be taken of that paid Customs duty.
Rgards
Dhiraj
3 Replies
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 28 June 2011
IF YOU ARE A COMPANY NOT IN IMPORTING FOR PERSONAL USE U CAN GET THE ADVANCE LICENCE THEN WILL BE BEST .
PRAKASH C B
(STUDENT)
(89 Points)
Replied 28 June 2011
Get Advance Authorization and Clear the item by executing Letter of Undertaking with AC of CE and clear the items without payment of duty under Rule 19 of Central Excise Rule
DAYANANDA K N
(ACCOUNTS EXCECUTIVE)
(575 Points)
Replied 28 June 2011
Following benefits will be available
1) Avail the credit of CVD,ED cess on CVD, SHE cess on CVD and additional duty on imported inputs. This can be utilised for payment of duty on domastic clearences.
2) Export your finished goods without payment of duty under rule 19 of central excise rules.
3) while exporting you can file duty drawback shipping bill. In that case you will get duty draw back amount which will be normaly around 1% of FOB value (This all Industrail drawback rate)
4) If you exporting same commondity which is imported in same condition in that case you can get reimbursement of 98% of import duty paid. (Refer Sec 74 and 75 of the customs act)
Regards
Dayananda
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