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Ayush Singhania
24 November 2021 at 14:55

Import Transaction and closure in IDPMS

Background: Our organization is setup as a STPI unit, and we are further looking to expand the office premises. In this arrangement we are looking to enter into a lease with the landlord with an arrangement that the landlord shall assist in importing capital goods (like furniture, camera, security equipment) and we can pay rent to them over the years of lease. Few pointers in this arrangement as below.
Landlord shall import the good from foreign supplier where the invoice issued by the foreign supplier will be "Billed To" the landlord; and "Shipped To" our organization. With such invoices, our organization being setup as a STPI unit shall seek approvals from STPI and Customs for duty exemption on import
At the time of clearance from Customs with STPI approval in hand, our organization shall file the Bill of Entry ("BOE")under our organization IEC code .
The foreign remittance to the supplier shall be made by the landlord from their AD banker within stipulated time. Therefore BOE would be filed with landlord's bank AD code mentioned.

Query:
As the Bill of Entry filed under our IEC code, believe that IDPMS portal shall reflect open Bill of Entry under our IEC.
As the foreign remittance will be made by the landlord, believe that the ORM report will show such foreign remittance under the landlord's IEC code.
Can the Bill of Entry being filed under IEC code of our organization be "settled" with the outward remittance to foreign supplier made under the landlord's IEC code?


Nirmala Dhanasekaran
15 November 2021 at 16:34

PF CLOSURE

Can anyone guide how to close PF along with pension.


RAM KUMAR SAINI

Dear Experts

If we are importing goods under IGCR 2017 ,NOTIFICATION 50/2017 amended vide Notification 09/2021, clarify vide circular 10/2021

Are we bound to consume the imported goods within the period of Six months,or we can consume imported goods after the period of six months

Please Advise


Preeti
12 October 2021 at 20:24

Invoice Date on Export invoice

Hi sirs/madams,

i have a question as to what date should be put as invoice date on dhl/fedex export invoice..
for example, i receive order and get paid via paypal on October 15. Then I send the product via dhl/fedex on October 23th. dhl/fedex creates an export invoice with the details i provide..What date should be used as the invoice date for this?

Thank you very much,
Preeti


R.PARTHIBAN

Dear sir
Import tricycle from foreign country to india. For handicap people..1.how much duty will pay 2. Any exemption from customs department 3. Attract GST..


VIJAYALAKSHMI K
06 October 2021 at 15:23

HSN modification updates

Dear Friends, I would like to know when the HSN No.85444290 was added into Customs Tariff. I have verified finance bill for the years 2019, 2020 & 2021 and could not able to find. Prior to 2019 this HSN was not there. Can any one help me on this. Also advise me is there any other sources, other than finance bill / DGFT notification to find out the changes / additions in HSN Thanks in advance

Read more at: https://www.caclubindia.com/experts/hsn-clarification-2852639.asp


vasanth
06 October 2021 at 13:02

Fields to be updated - in ICEGATE

How to Update My AD Code and My bank account number (used for foreign remittance) in ICEGATE. can anybody guide me


VIJAYALAKSHMI K
21 September 2021 at 11:03

HSN Clarification

Dear Friends,

I would like to know when the HSN No.85444290 was added into Customs Tariff. I have verified finance bill for the years 2019, 2020 & 2021 and could not able to find. Prior to 2019 this HSN was not there.

Can any one help me on this. Also advise me is there any other sources, other than finance bill / DGFT notification to find out the changes / additions in HSN

Thanks in advance



Varun Desai
19 September 2021 at 20:47

Icegate registration clarification

Hi,
We are a partnership firm and have IEC code for the same. We have registered on icegate website as IEC Holder. After uploading the document for AD code registration on the icegate it has been rejected with reason as, supporting documents not forthcoming. Kindly suggest.


Ramesh S. Kansara
01 September 2021 at 20:50

Payment of insurance and freight in BOE

Who pays the amount of Insurance and freight while importing goods from outside the country?

Let us say
FOB - 10000 $
Freight - 200 $
Insurance - 112.5 $

These brings CIF - 10312.5 $

Importer is liable to pay the amount of FOB to seller but Insurance and freight are part of bill of Entry

Importer further pays to his CHA ( BCD, Surcharge and IGST) but buyer don't pay for insurance and freight.

But while maintaining books of account, seller account is credited as 10312.5 $ but he doesn't pay for it. Then how to close seller's account in importer's books of account?