22 July 2011
One of my friend want to import a material from outside India but the material which is being imported will first go to another supplier in another country and he will do some value addition work and then the material will be transfrred to India. now my question will there be any violation of law? how the bill of entry be prepared because both the supplier are going to bill seperately.
as per para 2.8(iii), foreign trade policy 2009-2014 an exporter / importer who wanted to import / export are exempt from IEC code if they are import / export for personal use / agriculture purpose the goods.
for duty structure please provide me itc code of imported item