Bhopal
23/11/2010

I have to deposit Rs.15000/- by challan for payment of custom duty.
kindly reply me , how this payment can be done by E-payment or BY bank in which bank.

Thanks

D.K.Soni
bhopal

Dear Experts,

For the purpose of Custom duty calculation assessable vale = Total Value *1%(It's called Customs handling charges),
Total Value = CIF value + Freight amount + Insuetnce + eny othe Origin handling charges (If any)

1. 1% Custom handling charges is Expence for Importer or Deemed expence?.

2. If it is excepence this charges need to consider in Total landed cost?.

Dear Sir,

We sent samples to our overseas customer worth USD 500.00 through courier but make invoice for USD 24.00

Customer made the payment for USD 500.00
Can we re-generate the invoice for USD 500.00 to enter in account books instead of USD 24.00?

Should we need to clear the GR against the above payment USD 500.00?

If not, When it is necessory to clear GR?


Regards
Jitendra

We a importing set-top boxes from china to india. according to contract terms we have to make two advance payment installment of 15 % of total payment.and rest 70% after reciving goods. we have paide 1 st installment but when we send document for 2 nd inst.then bank is asking for bill of entry. i want to know that bill of entry should be filled when goods are recived in india.and not in case of advance payments.pls reply that they are right or wrong?

Dear Sir

I am confussed regarding BRC for invoice in INR, If we make Invoice in INR and received the payment in USD

Suppose
Inv Value in INR is - 100000
At the time of payment Party Transfer - 2173.91 @ 46 (i.e. 100000/46 = 2173.91, as party made full payment in USD at rate of day transfered)
As we received the same amount in EEFC account after deduction of USD 25 as bank charges i.e. (2173.91-25 = 2148.91),
but on date of transfering from EEFC account USD rate was 45.5.
So : - 2148.91 X 45.5 = 97775.41 INR

Loss due to USD fluctuation (100000-97775.41 = 2224.6)

Now, my doubt is,

- - - Is these BRC will be remarked by Authorised Dealer or Bank as "Part Realizied" as it's a loss due to fluctatuation in USD rate nor of short payment, while party has made full payment and no further payment is going to come against these invoice.

Pls clear ny these doubt

Thank & Regards

Jaffar

We like to be act as a Merchant Exporter.
Got some export orders from South Africa. The goods (machinery - manufactures) are supplying to us with Excise Duty. How can we save the Excise Duty at the time of purchasing goods. We already have IE CODE. Needed any special permission / licence required for exporting goods(Machineries) from Customs Authories.

Valuable advice in this regard is highly
apreciated.

Dear Sir

I wish to offer my best wishes & I request your good office to clarify my query with suitable suggestions if possible.

1. I wish to start business as a MERCHANT EXPORTER( EXPORT & IMPORT OF Phamaceutical Drugs & allied Products).
As such I want to know how to proceed with Procedures.

2. WHAT ARE THE PROCEDURES
3. WAHAT ARE THE STATUTORY LICENSES REQUIRED.
4. OURS IS A pARTNERSHIP fIRM
5. Please clearly mention A-Z aspects to be implemented.
6. what is the course of my action in this regards.

Please kindly give me answers, I shall be very much graetful & indebted to you for your kind help indeed.

Sir Awaiting for your suggestions please.

Thanks & Regards Sir

L.SIVA PRASAD
08897990793 & 07893566750

Dear Sirs,

Can anybody tell us what is duty drawback scheme & who can take benefit of this scheme.

Regards

A EXPORTER MENTION IN THE EXPORT INVOICE FOB VALUE + FRIEGHT IN FOREIGN CURRENCY AND TOTAL AMOUNT IS CIF VALUE.
NOW I WANT TO KNOW THAT
IF THE EXPORTER PAYS LESSER AMOUNT IN ACTUAL TO FREIGHT
WHEATHER THAT LESSER AMOUNT WILL BE DEDUCTED TO CALCULATE THE FOB VALUE OR AMOUNT MENTION IN INVOICE WILL BE DEDUCTED
ALSO WHEATHER FORIEGN BANK CHARGES DEDUCTED IN FOREIGN CURRENCY WILL BE DEDUCTED WHILE CALCULATING FOB VALUE
EXAMPLE
FOB VALUE 32000 USD
FREIGHT 500 USD
TOTAL CIF VALUE 32500
ACTUAL FREIGHT PAID RS. 15000 = 300 USD
AMOUNT RELIASED 32400 USD
FBC DEDUCTED 100 USD
WHAT WOULD BE THE FOB VALUE

Dear Sir,
What is the procedure to revalidate/renew the DEPB license..
Is there any specific format for the application??