Accounting treatment of imported machinery

Save Share

This query is : Open

ASHISH KUMAR NAMDEV (Querist)

14 December 2015 Dear All,
Greetings of the day,

We are a leading Mfg. com. in india having units all states .
we imported a Machine under EPCG Licence from Singapore in name of our Uttrakhand unit. but Machine is delivered in Himachal Pradesh.

Please clear the whole scynerio to fullfill the followings.

1-Documents need for transfer of Ccapital goods from Unit-1 uttranchal to unit-2 himachal pradesh of same company

2-Accounting Trearment in each unit .

3-Intimation of Machine Arrival by which unit.

4-Installation certificate by which unit.

Thanks & Regards in Advance

Ashish kumar

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

15 December 2015 You cannot remove the machines which is purchased under EPCG scheme until unless you fulfill export obligation, EODC certificate and redemption. If still you remove then you would have to pay duty foregone, interest, penalty as per the Customs, Central Excise, DGFT and FT(DR) Act.

if BRANCH List of Himachal Pradesh is add in the IEC AND RCMC obtained by you, then prior intimate to RLA.

Regards,

ASHISH KUMAR NAMDEV

ASHISH KUMAR NAMDEV (Querist)

16 December 2015 Dear Sir,

What is the provision if Spare parts arrives in same situations.cAn we receive imported spare parts of our other state unit in hp unit by endorsing the invoice /BE.

Regards

ASHISH

ASHISH KUMAR NAMDEV

ASHISH KUMAR NAMDEV (Querist)

22 December 2015 Please Reply urgently with Refferences.
i shall be highly oblized.

Regards
Ashish

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now