kalam (ww) (34 Points)
19 June 2011I am importing a LED display system for the company use . My company has a IEC code. The company does not plan to sell this product. it is for thew internal use of the company .The company does not have a sales tax number. what is the procedure for clearing the product from the port to company office. the CNF price of the product is 25,000 $.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 19 June 2011
customs will charge full tax rate(SAD) in absence of vat/tin no.
as you are no reseller, no impact on yourself.
chetan
(accountant)
(321 Points)
Replied 19 June 2011
U shud write letter to customs officer mentioning that u r not going to sale the the same product and it is for office use only.
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 20 June 2011
as per provision laid down in foreign trade policy 2009-2014 , para 2.8(iii) mentioned that if you are import / export the goods for personal use/ agriculture purpose are exempt from IEC code.
agree with sharma ji...
Pabak Mohanty
(PA)
(40 Points)
Replied 28 June 2011
Hallo Ramesh JI,
Suppose I have IEC and NO TIN, bu the purpose of import is for sale, what will happen?
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