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Ankit Pandey
12 April 2023 at 14:33

BRC for third party payment

If i am the exporter but payment is made directly to a third person who delivered goods to me in India for export, how will I get BRC for the same?


Prapti

Being sole proprietor, what will be beneficial, to hire a employee or to hire a consultant? Also explain how it is beneficial?


Aditya Rai Sud
02 March 2023 at 14:45

Shipment to Azerbijan via Iran

Hey,
We did two shipments to Azerbaijan but the goods were sent to Iran and from Iran sent to Azerbaijan via road. The payment has come from Azerbaijan only but we are unable to knock these shipping bills off due to the iran issue. How can we go about it? We bank with Axis bank.


Mani Eswaran Potty
20 February 2023 at 16:31

Amendment of Bill Of Entry

Respected Sir's

One of our client have made an Import on 30.04.2021 and now they have realized that the commercial invoice ( 1000 $ ) through which they have imported the goods doesn't had shipping and handling charges and they have got another invoice from the overseas vendor with Shipping and Handling charges .The invoice number remained same and the invoice date and the Invoice value was amended to 1250 $. Based on the amended invoice our client have made the payment to overseas vendor and now the Bank people is calling for the BOE proof of the same.

Can the BOE be amended now as its almost an year, and if so can it be done online.

Please advice


Saravanan

When the Customs duty is calculated, should we consider GST on Insurance premium also to arrive at Assessable value ?

Example 1 :
Insurance sum assured - Rs 30 Crores
Premium paid - Rs 10 lakhs
GST paid @ 18% - Rs 1.8 Lakhs
% of insurance - (Rs 10 lakhs / Rs 30 crores) X 100
- 0.0033 %
C & F price - USD 100
Insurance - 0.0033 ( 0.0033 % of USD 100)
CIF price / Assessable value - USD 100.0033

Example 2 :
Insurance sum assured - Rs 30 Crores
Premium paid - Rs 10 lakhs
GST paid @ 18% - Rs 1.8 Lakhs
Premium paid and GST - Rs 11.8 Lakhs
% of insurance - (Rs 11.8 lakhs / Rs 30 crores) X 100
- 0.0039 %
C & F price - USD 100
Insurance - 0.0039 ( 0.0039 % of USD 100)
CIF price / Assessable value - USD 100.0039

My opinion :
Since the Input tax credit is availed for GST portion of Insurance premium, it need not be considered for arriving Assessable value. So, Example 1 is correct.

Kindly advise.


jignesh sitapara
13 February 2023 at 09:41

Regarding Mistake.

I would like to inform you that, I wish to amendment shipping bill number. And it's date is 21-09-2021. Now IGST refund Rs. 5.42 lcas hold in this reason.
Please reply.


badrinarayanan
03 February 2023 at 12:27

Form A - EOU

Hi experts. As per the Circular 35/2016-Cus dated 29th July 2016, the EOU is required to be submit details of quantity imported, consumed, re-exported and in stock in FORM A.
Can anyone clarify whether it is mandatory to furnish monthly Form A for Nil return also ??


CA Parul Saxena online
30 January 2023 at 12:44

Login on icegate

i have heard that juse IEC code required to login on icegate can somebody please tell me how to login on icegate portal?


C B Prakash
25 January 2023 at 17:40

Sending goods outside India for auction

Sending goods outside India for auction. Example company A in India send machines to Mexico for auction. Price will not be known at the time sending the machines. Only auction agreement will be made available to us. How do I send the machines? and at what price I have to issue the invoice?. Price may change according to the bidding in the auction i.e, it may go up or down.

What are issues related to FEMA if price goes down in auction.


Swapnil Jain
24 January 2023 at 15:09

Export incentives for Importing

Dear All
I am exporting some good from India to africa. The value is approximately 18 lakhs FOB. In near future I am going to import few machine for domestic use. Which benefits can I avail during import of machines. Please suggest