Dear All,

Section 21 of the Customs Act,1962 says that goods Derelict,Jetsam,Floatsam and Wreckage are treated as imported goods even though they do not come from a proper channel. hence they are liable to Customs Duty.

My query here is that, WHO (WHICH PERSON) WILL BE HELD LIABLE TO PAY SUCH DUTY?

Our company had imported second hand equipments under Zero Duty EPCG scheme for setting up a plant. Subsequently, the plan to set up of the plant was shelved & the equipments were not installed. Now, we want to surrender the EPCG licence.
Kindly inform whether the same can be done and if so what is the procedure for doing so & the underlying costs for surrendering the licence.

Dear Experts,

We are manufacturer an d exporter of Auto Parts, now we want to get benefit of MLFPS under Chapter-3 of FTP.

Pls. share whole procedure for the same and let us know that it is online process or offline process.

many thanks in advance.

What is procedure to export capital goods on lease Basis? what is the Time Limit to import to these goods?

Dear Sir,


Kindly arrange to reply about the last date of filing of Terminal Excise Duty refund wherein Advance has been given to vendor, particularly wherein 5% advance has been given against which we have received number of excise invoices.

We want to know in such cases whether application should be correlated with date of supply/invoice or date of payment.

Thanks in advance,

SIR,
I HAVE APPLIED FOR TERMINATION IN JULY,2013.ON THE NET, UNDER ARTICLES STATUS I AM GETTING THAT MY ARTICLESHIP TERMINATION IS SUCCESFUL. BUT I DIDN"T GOT TERMINATION LETTER TILL NOW..IS THERE ANY WAY TO GER TERMINATION LETTER OTHER THAN TAKING FROM THE PRINCIPAL?

My client is a manufacturing unit and recently accepted a purchase order from abu dhabi(UAE) in INR. we have to make invoice in INR. please advice whether there is any voilation of FEMA and in which currency we have to recieve payment and have we face any problem related to shipment,custom clearance,documentation and dealing with bank? please advice me ASAP as this is very urgent.

our product chapter heading coming under FPS scheme, for example 8417 and sub heading 17
next two digit not coming in the list.

whether is this enough for claiming the FPS.

or full eight digit should be required.

Exchange rate Applicability.

In case of export rate which date exchange rate will be applicable.

Date of filing shipping bill in EDI system.
Date of let Export.
Date of Consignment actual exported.

Dear Experts, I am an MBA in Finance having 8 years experience in a Private Sector Bank. I have resigned my job and going to start own business. My business is related to Wholesale Trading of Water Treatment Plant Components and Spares. My query to you is whether I should start it as a Sole Proprietorship Co or a Private Limited Co. My total investment is around Rs.20 Lakhs. Request you to resolve my confusion regarding the Advantages and Disadvantages of both the stream of businesses, please..