Hi, for the purpose of issuing customs agent licence, customs department asking for solvency certificate. If we approach bank, bank offiial insisting for security, which would be kept with them until we return solvency certficate. Instead of blocking our asset or cash with bank for many years, is there any other way to get solvency certifcate from other department or else? Please help.

Dear sir,
please let me know the followings..

1.The DEPB licence representing the credit to be adjusted towards the Imports components of exports or to be held for sale is to be reated as an asset or saleable item, since if we sale it at 5% discount, then we have to charge VAT & file it in the VAT Return.
so can we show it as a saleable item while in fact it is an asset.
so shud it be transferred to other income or somewhere else?/

please do reply at urgent..
kind regards
abhiram bharat

An EOU Unit which had sourced materials without payment of Customs Duty/Excise Duty has disconitnued its production and had identified a local buyer in India who is not an EOU to sell these raw materials. What are the duties and taxes payable by EOU?

An EOU Unit which had sourced materials without payment of Customs Duty/Excise Duty has disconitnued its production and had identified a local buyer in India who is not an EOU to sell these raw materials. What are the duties and taxes payable by EOU?

what is wharfage charges ? when it incurred? plz explain me with example ?

Dear Experts
Kindly let me know within how many days imported goods are to be used and if any imported items are lying for more than 5 years without use what is the implication

I am working for a packaging company engaged in manufacture of monocartons for pharma and other companies. We had taken various EPCG Licenses for which we have to take benefit of DEEMED EXPORT. Please guide as to what all documents are required to be given by the actual exporter to us or vice-versa. Also guide, what if the actual exporter doesnot give us the requisite documents.

Dear all,

kindly inform me the taxes against which custom duty paid by the assessee can be set off specially for manufacturer importing raw materials and also capital goods.

Dear Sir,

Ours is a partnership concern based in Gujarat. We import Solar Glass Tubes from China. Product code is 85439000 & pay 10% Basic Duty & 4 % Addl. Duty. No excise duty. We sell this to Solar Water Heater manufacturers in India. This solar water heaters are used by individuals and also by hospitals, schools etc. Basically this is a Product for Non Conventional Energy Source. Now I would like your guidance on following points :
(1) Is there any concession / exemption in duty available - since this is a part of product which manufactures non-conventional energy ? If yes, provide notification / circular etc.
(2) India has signed Free Trade Agreements (FTA) with Singapore, ASEAN Countries etc. Under this, both countries allow their importers / exporters to import / export their product with no duties levied on it. Is there any General Exemption available in Custom Duty for my product ? If yes, how much and under which noti./circular ?
(3) Actual name of my product is "Vaccume Tube Solar Collectors". You can search & find suitableHS Code under which I can import from now onwards to avail the benefit.

thanks in advance.
anckoora.

Dear All
Please let me know the procedure for importing a machinery from Foreign Countries
As far as i know it go through following procedure
1. Placing order after phonic or mail- exchange or by any other mode
2. Remitting of payment through our banker
by enclosing following documents
a) From-a1
B) Advice to bank
c) Per forma invoice

3. After receiving the goods , taking credit on the basis of Bill of entry and sending
4. Sending detail to our banker with exchange copy for getting their sign thereon .


Further if there are any other procedure involve please let me know .

Thanks