I have imported certain goods 3 years ago and claimed customs exemptions on a condition that it will be utilised for the said project in India for a period of 10 years.

Now i want to sell the goods at the end of the third year. Can I do so?

Section 73 speaks of Duty drawback of goods which were subject to Import Duty and is silent about exempted goods.

If I export, what will be the consequences?

Will I be liable to any penalty?

Thanks in advance...

Dear Expert,

How to calculate Total Liability of the company.

Thanks in advance......

Our company has obtained EPCG License.payment towards this should be accounted under which head?please reply?

Assesse have exported material valued at 10000 Euro (Qty 1000 at the rate 10Euro for each qty) in April 10. Assesse have received price increase from customer in Oct 10 to 15 Euro for each qty wef April 10. If assesse get the payment from customer 15000Euro (1000 qty at new rate Euro 15) for material supplied in April 10. How one can clarify to bank for Excess receipt of Euro 5000 ((1000 Qty at 5 Euro (15-10)).

Sir, I have opportunity to export my knowledge to other countries- in the field of chemical manufacturing. I have to send the process in a sheet of paper with clear instructions to proceed. iImay receive the exchange in $. Now pl guide me what should I do / iam not having any in come now/ not have PAN nuumber also.

Dear Sir,

I am Mohammed Masiuddin Ahmed & I have recently Import-Export Business i want export Electrical Goods like Switches, Wires, Extensions etc from India to Saudi Arabia, Can u help me with the export duty & also custom duty or any other tax invoved to export this product.

Thanks & Regards,
Masi
Aciero

we are a manufacturing company and we export 90% and 10% for domestic supply.(Pls. note we are not EOU)
we are financing to a vendor for importing a machine which will exclusive work for our component.

could anyone suggest that is there any scheem for exemption of Import duty for that machine like used for deemed export etc....?

Hi All,

Can someone please tell me the procedure to be followed if any for

a) Employees who go onsite get mobile phones,ipads,ipods etc for testing the software developed in India for the parent company in USA.

b) Should the same be accounted as asset in the Indian Companies books, if yes we dont have any invoice,nor debit note raised by the parent company.

c) Also should the employees getting such device carry a testimonial to show that it is not sale and has got no commercial value to avoid any legal/compliance issue.

Can someone reply at the earliest.

Regards.

Dear Sir,

Wish you happy New year.

your guideline help us in our enhance knowledge on our field.

my question is : how many shipping bill file in single DGFT DEPB/FPS/FMS application ?

THANKS AND REGARDS

Pritesh Patel

Mr.'X' imported several consignment of goods under proper license valid up to 31st DEC 2010. A consignment was imported per "Maharani ship" on 29th DEC 2010. Before goods were unloaded,strike broke out and goods can not be unloaded.ship was forced to leave the port. The strike ended on 9th January 2011. the ship reentered the port on 9th Jan 2011. Mr. X claims that the leaving of the port by ship was involuntary and to save the goods. Mr. X also claims that since the vessel has entered the Territorial water earlier import was completed. Could the goods be cleared in the same license?