Do we have to pay vat/sales tax charged against sale of such( on which 4% additional duty is paid)imported goods for claiming refund of 4% additional duty although we are not suppose to pay vat as we are getting refund in vat? if yes then what will be the treatment of such vat/sales tax paid in vat return?

we are providing ground handling services at 7 Airports in India.....we are getting revenue receipt through GSA of foreign airlines....we are providing ground handling services to Foreign airlines and are raising invoice to foreign airlines....can we receive money through GSA for services rendered to Foreign airnies under Indian Law...

Dear Forum Members,

We are willing to enter Tablet PCs business (imported from china) and have a few questions regarding the same. I will be highly grateful if you can kindly help me with my questions. The details are as follows:

1) Suppose the base price for the product quoted by my manufacturer is $300. He then adds shipping cost as $10 (sea shipment) + Insurance $10 which makes the total CIF value as $320 (approx Rs 16,000/-)

2) Now the shipment arrives here in India and I produce the Bill of Entry for clearance. This is the point where the customs levy a duty on me and so I want to know the exact duty to be paid at this point. The products are Tablet PCs just like iPad.

3) Once the goods get cleared from customs, I procure them and store them in my warehouse. Afterwards, I sell those to individuals and organizations on sample, retail & wholesale basis. So what will be the VAT/CST/Service/Sales tax application to my product at this point. I will have to markup my product's MRP according to these taxes. Please provide me the details of the taxes which will be incurred to me while selling this product on a PAN-INDIA basis.

Also, in case I am missing out on something do let me know that as well. I will be really grateful to you.

Thanks and Regards,

my company purchase 1 item from china & seller charge price of 2 item after all settlements with custom and foreign transfer we realize our mistake and seller provide those 1 item free of cost
what is remedy and accounting treatment of those transaction.

We are in a difficult situation and would appreciate some advice. We are a 3rd country based trading company (let’s assume “Singapore” for this case) and have bought goods from an Indian manufacturer and shipped them to our client in Europe. The client in Europe needs a “Certificate of Origin – Form A”.

The relevant Indian government organisation is not willing to issue a form-a, with our Singapore co. as shipper, because it’s not an Indian registered company.

Usually when we purchase from china, we are easily able to get a Form with shipper shown as “Chinese Company O/B of Our Singapore Co”. But it seems that this is not possible in India?

The solution advised by client is, we get a CO-Form A, Issued by the real manufacturer with the real manufacturer as “shipper” and “to order of” as consignee. In this form, column 10 (Invoice No), would be the invoice number of invoice issued by the manufacturer to our singapore Co. In this case the customer says, the EU Customs authority “may” ask us to provide a copy of the invoice between the real manufacturer and our Co. This exposes our margin, hence is not preferred by us.

The goods have already been on board for the last 10 days. Would appreciate some advice on this.

Other Notes: This is purely a TT Transaction, hence no LC Involved

MY FIRM HAD PURCHASED THE GOODS FROM OUTSIDE INDIA AND IT HAD BEEN IMPORTED INTO INDIA AND LANDED AT THE PORT ALSO DUTY HAD BEEN DETERMINED ON THAT NOW WE BOOKED THE GOODS AT $7.7/KG AT THE TIME OF PURCHASE BUT WHEN IT REACHED TO INDIAN PORT THE DUTY WAS DETERMINED ON THAT BASIS BUT AFTER THAT WE MADE NEGOTIATION FOR THAT GOODS DUE TO DECLINE IN THE RATE OF THAT PRODUCT INTO INDIA AND THEY DECIDED TO MAKE IT TO $7.2/KG NOW WHETHER DUTY CAN BE REDETERMINED ON THE BASIS OF $7.2/KG OR NOT SO THAT WE CAN PAY THE DUTY ON THE BASIS OF THE ORIGINAL INVOICE AMOUNT BECAUSE WE ARE GOING TO MAKE THE PAYMENT TO THE FOREIGN PARTY AT $7.2/KG AND THE DUTY BEING DETERMINED AT THE RATE OF $7.7/KG.

Hi All,

Please help me with this query.

My co. imported some tools and machinery for installation purpose now it wants to re export it. Is there any way to send it back without paying export duty.
Thanks in advance.

With Best Regards
CA Richa Sharma

Hi Sir,

One of my client is going to start a BPO and for this purpose they are importing some computer eqipments from overseas on which CVD will be paid, after getting these equipments in india they will start providing services to clients.

My question is that as per cenvat rules can we take credit of this CVD against service tax liablity, and if yes what is the procedure/documentation of claiming this credit?

Kindly suggest me the correct way to do this.

Thanks
Lalit Gupta

Hello,

We are a manufacturer & exporter of automotive componenets. Recently we have started export of a new product. H.S.Code is 94019000.

Please confirm can we get any benefit under Chaptor 3.

Thanks for suppot

sir,
plz suggest me reference site or kindly explain me the procedure related to import and accounting treatment of the same

1. how will we treat import duty paid and other expenses related to import like destuffing charges, storage charges, detention charges etc in accounts.
2. why the amount entered in the delivery note deffer from bill of entry

in VAT return purchase are entered from delivery note. that amount is entirely different from bill amount.

3. how DELIVERY NOTE amount calculated

4. How we we can tally purchase as per VAT return and Purchase as per accounts.

5. how we can treat exchange dereference (purchase date rate- Payment date rate) in party account.