Customs and FEMA violations
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 April 2011
Question: XYZ Pvt Ltd registered in India who is importing raw materials from ABC Enterprises who is registered outside INDIA. ABC Enterprises supply materials to XYZ PVT LTD at site. The expenses of customs duty, transportation charges, service tax and any other charges is born by ABC Enterprises. XYZ PVT LTD paid material cost, customs duty, transportation charges, service tax and anyother charges to ABC Enterprises after 30 days of delivery of materials. So, is there any custom / FEMA violations in this transaction.
04 June 2011
Payment for import can be made within six months of receipt of material.
Still I feel your question needs clarification. The imports are on the basis of FOB or CIF basis. How can a foreign entity pay customs duty in India ? For Imports/Export you have to be registered with Indian Customs as well as IEC no. isssued by DGFT.
Still I feel your question needs clarification. The imports are on the basis of FOB or CIF basis. How can a foreign entity pay customs duty in India ? For Imports/Export you have to be registered with Indian Customs as well as IEC no. isssued by DGFT.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
