import from parent company
Aman Jain (Company Secretary in Practice) (165 Points)
16 February 2010Aman Jain (Company Secretary in Practice) (165 Points)
16 February 2010
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 17 February 2010
MR JAiN,
THERE IS THE RULE ABOUT THIS MATTER:-
IMPORTERS WHO ARE RELATED TO THE SUPPLIER IN TERMS OF RULE 2(2) OF THE CUSTOMS VALUATION RULES, 1988 ARE REQUIRED TO REGISTER WITH SVB. RULE 2(2) OF THE CUSTOMS VALUATION RULES, 1988 IS AS FOLLOWS:-
RULE 2(2): FOR THE PURPOSE OF THESE RULES, PERSONS SHALL BE DEEMED TO BE "RELATED" ONLY IF:- |
|
|
II) |
THEY ARE LEGALLY RECOGNISED PARTNERS IN BUSINESS; |
III) |
THEY ARE EMPLOYER AND EMPLOYEE; |
IV) |
ANY PERSON DIRECTLY OR INDIRECTLY OWNS, CONTROLS OR HOLDS 5 PER CENT OR MORE OF THE OUTSTANDING VOTING STOCK OR SHARES OF BOTH OF THEM; |
V) |
ONE OF THEM DIRECTLY OR INDIRECTLY CONTROLS THE OTHER; |
VI) |
BOTH OF THEM ARE DIRECTLY OR INDIRECTLY CONTROLLED BY A THIRD PERSON; |
VII) |
TOGETHER THEY DIRECTLY OR INDIRECTLY CONTROL A THIRD PERSON; |
VIII) |
THEY ARE MEMBERS OF THE SAME FAMILY. |
|
Hope, that point II, conditions occurs on you. I opinion that you must registered in SVB OTHERWISE HIRE A CUSTOM HOUSE AGENT REGARDING THE CAPTION SUBJECT.
Ramesh.arti @ yahoo.co.in
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 17 February 2010
MR JAiN,
THERE IS THE RULE ABOUT THIS MATTER:-
IMPORTERS WHO ARE RELATED TO THE SUPPLIER IN TERMS OF RULE 2(2) OF THE CUSTOMS VALUATION RULES, 1988 ARE REQUIRED TO REGISTER WITH SVB. RULE 2(2) OF THE CUSTOMS VALUATION RULES, 1988 IS AS FOLLOWS:-
RULE 2(2): FOR THE PURPOSE OF THESE RULES, PERSONS SHALL BE DEEMED TO BE "RELATED" ONLY IF:- |
|
|
II) |
THEY ARE LEGALLY RECOGNISED PARTNERS IN BUSINESS; |
III) |
THEY ARE EMPLOYER AND EMPLOYEE; |
IV) |
ANY PERSON DIRECTLY OR INDIRECTLY OWNS, CONTROLS OR HOLDS 5 PER CENT OR MORE OF THE OUTSTANDING VOTING STOCK OR SHARES OF BOTH OF THEM; |
V) |
ONE OF THEM DIRECTLY OR INDIRECTLY CONTROLS THE OTHER; |
VI) |
BOTH OF THEM ARE DIRECTLY OR INDIRECTLY CONTROLLED BY A THIRD PERSON; |
VII) |
TOGETHER THEY DIRECTLY OR INDIRECTLY CONTROL A THIRD PERSON; |
VIII) |
THEY ARE MEMBERS OF THE SAME FAMILY. |
|
Hope, that point II, conditions occurs on you. I opinion that you must registered in SVB OTHERWISE HIRE A CUSTOM HOUSE AGENT REGARDING THE CAPTION SUBJECT.
Ramesh.arti @ yahoo.co.in
Aman Jain
(Company Secretary in Practice)
(165 Points)
Replied 18 February 2010
Dear Ramesh,
Thank you very much!!!
But i find somewhere that direct application from importer for SVB registration will not considered. Registration required when Appraising Board referred.
I am attaching a file. plz check. if you find any contrary thing then plz let us know.
Thanks & Regards
Aman Jain
mohana
(cfo)
(21 Points)
Replied 20 February 2012
Hi,
If we want to import from parent company and trade in India is there a way? Currently we are registered with SVB.