We have setup a new Software Services Company and opened a current account. Our banker assured us (verbally) that we do not need an IEC code (Importer Exporter Code) to recieve foreign inward payments from our clients in US.
However, from other sources, we are getting an opposite response.
What it the correct procedure? Do we, as a software development Service Provider, need it or not ? Or is there a limit upto which, companies can recieve remittances without an IEC code?
Please advice. Please also let us know if you can recommend any consutant who can get the registration done for us in Kanpur?

Regards.

Sir, My is an SSI unit and I am importing second hand weaving looms under 3% FOB Basis EPCG Scheme.
I am applying for the license of the same.
When i applied the export obligation in INR comes to only 3 times of duty saved where as the actual export obligation figure should be 8 times of duty saved.
How can i change the export obligation figure to 8 times??

Can we take delivery of goods at warehouse other than IEC code branch?
We need to do this just for inspection of goods & sending it to our end user. We just need to change documents before sending goods to final user.

Dear Sir/Madam,

If advance received from customer, whether attract any excise Duty on Advance received value? Kindly clarify.

Thanks & Regards,
Mahesh.G
Mysore

A Company (in India) didn't import the goods, but sold directly from the supplier to an overseas customer.

The foreign exchange with respect to that came to the bank account of India operation

Can they treat it as Export Sale?

Arun

Sir
I want to know the duties applicable and exemption if any on import of Bitumen in India.
What rates are applicable on it?
Kindly Help.

Thanks and regards.

We imported 500 units under HS code 84729090
payimg the custom duty.
However some of the units got damaged in transit so we asked the vendor to replace it.
Now we sent back the damaged units and the vendor shipped the replacement units for FOC.

Is there any general exemption on replaced goods?

Dear Ramesh Verma

in continuation of SHIS.
i have avail FMS so can i avail SHIS scheme also?
for the year 2009-10, 2010-11, 2012-13, 2013-14?

Regards\
Suresh Deshmukh

hi,in simple terms what is high sea sales/purchase?

Dear Experts,
I Would like to know whether IEC Code alloted in the year 1978 will still be valid.

Thanks