Dear Sirs,
I will be importing electrical components/drives and add value by manufacturing and then re-exporting under LUT.
Now my question is, can I import the components without payment of IGST & Basic Excise duty, if so how
Regards,
V Rajarajan
2 Replies
NITIN KOTAK
(SERVICE)
(1465 Points)
Replied 09 July 2017
First of all I tell you now BED not applicable, CVD .before GST. Basic Custom duty @ 7.5% is the same. only question that you can import the material against Advance License, till date no clarity about advance licence, please contact your nearest DGFT office for the same . you also export the material under LUT as previously done. just submit new LUT in your range office.
Rajarajan
(AO)
(272 Points)
Replied 10 July 2017
Thanks Mr Nitin, are you sure that imports dont carry any BCD but only IGST?. If such is the case then Make In India scheme will suffer and people will start importing instead or buying from Indian Manufacturer.
Ok I will reach DGFT office on the Advance LIcence aspect.
V Rajarajan
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