CUSTOM DUTY
This query is : Resolved
28 November 2017
Hi expert's
I am import machinery from China. and this missionary using for manufacturing of bubble rolls so it's any option for claim custom duty for that missionary.
28 November 2017
option for clime or refund from government
20 July 2024
When importing machinery from China for manufacturing bubble rolls in India, you may explore various options for claiming customs duty benefits or refunds. Here are some avenues to consider:
1. **Export Promotion Schemes**:
- **Advance Authorization (AA)**: You can import machinery without payment of basic customs duty (BCD), additional customs duty (ACD), and integrated goods and services tax (IGST) if the imported machinery is used for manufacturing products meant for export. This requires obtaining an AA from the Directorate General of Foreign Trade (DGFT) before importing the machinery.
- **Export Promotion Capital Goods Scheme (EPCG)**: Under this scheme, you can import capital goods, including machinery, at concessional customs duty rates for use in manufacturing products for export. Duty can be paid at a concessional rate subject to fulfilling the export obligation as per the EPCG scheme.
2. **Project Imports**:
- If the machinery is part of a specific project approved by the government and meets the criteria under Project Imports regulations, it may qualify for concessional customs duty rates or exemptions.
3. **Customs Duty Exemption Notifications**:
- Certain categories of imported machinery used for specific industrial purposes may be eligible for customs duty exemptions or reductions under government notifications aimed at promoting domestic manufacturing or specific sectors. Checking relevant customs notifications is essential to determine eligibility.
4. **Refund Mechanisms**:
- Depending on the circumstances and the nature of the machinery imported, there may be provisions for claiming refunds of customs duty under specific scenarios such as duty paid on rejected or returned goods, excess duty paid, etc.
5. **GST Input Tax Credit (ITC)**:
- Goods and Services Tax (GST) is applicable on imported machinery. Depending on the usage of the machinery, you may be eligible to claim input tax credit (ITC) on the IGST paid at the time of import, provided the machinery is used for taxable supplies in India.
To pursue these options effectively, it is recommended to engage with a customs consultant or a licensed customs clearing agent who can provide guidance on the eligibility criteria, documentation requirements, and procedures for availing customs duty benefits or refunds. They can also assist in complying with regulatory requirements and ensuring that all necessary forms and applications are submitted correctly to the relevant authorities.
1. **Export Promotion Schemes**:
- **Advance Authorization (AA)**: You can import machinery without payment of basic customs duty (BCD), additional customs duty (ACD), and integrated goods and services tax (IGST) if the imported machinery is used for manufacturing products meant for export. This requires obtaining an AA from the Directorate General of Foreign Trade (DGFT) before importing the machinery.
- **Export Promotion Capital Goods Scheme (EPCG)**: Under this scheme, you can import capital goods, including machinery, at concessional customs duty rates for use in manufacturing products for export. Duty can be paid at a concessional rate subject to fulfilling the export obligation as per the EPCG scheme.
2. **Project Imports**:
- If the machinery is part of a specific project approved by the government and meets the criteria under Project Imports regulations, it may qualify for concessional customs duty rates or exemptions.
3. **Customs Duty Exemption Notifications**:
- Certain categories of imported machinery used for specific industrial purposes may be eligible for customs duty exemptions or reductions under government notifications aimed at promoting domestic manufacturing or specific sectors. Checking relevant customs notifications is essential to determine eligibility.
4. **Refund Mechanisms**:
- Depending on the circumstances and the nature of the machinery imported, there may be provisions for claiming refunds of customs duty under specific scenarios such as duty paid on rejected or returned goods, excess duty paid, etc.
5. **GST Input Tax Credit (ITC)**:
- Goods and Services Tax (GST) is applicable on imported machinery. Depending on the usage of the machinery, you may be eligible to claim input tax credit (ITC) on the IGST paid at the time of import, provided the machinery is used for taxable supplies in India.
To pursue these options effectively, it is recommended to engage with a customs consultant or a licensed customs clearing agent who can provide guidance on the eligibility criteria, documentation requirements, and procedures for availing customs duty benefits or refunds. They can also assist in complying with regulatory requirements and ensuring that all necessary forms and applications are submitted correctly to the relevant authorities.
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