Advance licensing / advance authorisation - ftp
This query is : Resolved
22 August 2019
I have a scenario of;
Company "A", is a DTA company has got a Export Order from Thailand. To Manufacture the Export order, "A" company wants raw material of Stainless Steel in sheet form. Since the size of his raw material requirement is less, he got the quotation from suppliers with high price, Advance payment and need to wait for 2 months for reception of material. Hence, he has approached "B" company who is importer of Stainless Steel Coils and supplying locally. The condition offered by "B" with respect of price, credit period and delivery. The agreement is, "B" company will import coils and slit / sheer it to the size required by "A" company. With this initial operation, "A" company will complete the rest of manufacturing activity to produce the required product.
In addition to the export order, "A" is already supplying some products to local customers. Also "B" company is importing and supplying to local customers.
Now the question is, Can "B" company apply for Advance Licence for the material required by "A"?
Regards
Anbarasu Thambiran
8939854818 / anbarasuthambiran@gmail.com
Company "A", is a DTA company has got a Export Order from Thailand. To Manufacture the Export order, "A" company wants raw material of Stainless Steel in sheet form. Since the size of his raw material requirement is less, he got the quotation from suppliers with high price, Advance payment and need to wait for 2 months for reception of material. Hence, he has approached "B" company who is importer of Stainless Steel Coils and supplying locally. The condition offered by "B" with respect of price, credit period and delivery. The agreement is, "B" company will import coils and slit / sheer it to the size required by "A" company. With this initial operation, "A" company will complete the rest of manufacturing activity to produce the required product.
In addition to the export order, "A" is already supplying some products to local customers. Also "B" company is importing and supplying to local customers.
Now the question is, Can "B" company apply for Advance Licence for the material required by "A"?
Regards
Anbarasu Thambiran
8939854818 / anbarasuthambiran@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- NRI starting business in India
- Condonation . E-Verification of last year return .
- GST not cancelled by tenant
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
