Duty drawback/refund for vegetable exporters
This query is : Resolved
20 October 2011
Sir,
Please let me know whether any duty draw back or refund or other claims eligible to vegetable and fruits exporters ? This person (one of my client) has been engaged in the export of vegetables and fruits to europe for the last 5 years (and still going on) but did not claim any refund/drawback. Is there any provision in any scheme beneficial for him ? Please tell me the rewsource (notification/circular No. etc.) to collect the details.
vinodaca74@gmail.com
Please let me know whether any duty draw back or refund or other claims eligible to vegetable and fruits exporters ? This person (one of my client) has been engaged in the export of vegetables and fruits to europe for the last 5 years (and still going on) but did not claim any refund/drawback. Is there any provision in any scheme beneficial for him ? Please tell me the rewsource (notification/circular No. etc.) to collect the details.
vinodaca74@gmail.com
29 October 2011
IN THIS REGARDS PLEASE YOU CAN WRITE A LETTER FOR CONDONATION OF DELAY OF REASON ABOUT LATE FILING THE INCENTIVE.
ALSO PROVIDE CUSTOM BRC TOO AS WELL AS EP COPY OF SHIPPING BILL, BANK ATTESTED INVOICE, B/L (AWB)
ANY ASSIST I CAN THANKYOU..
ALSO PROVIDE CUSTOM BRC TOO AS WELL AS EP COPY OF SHIPPING BILL, BANK ATTESTED INVOICE, B/L (AWB)
ANY ASSIST I CAN THANKYOU..
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31 October 2011
Dear Ramesh Kumar Sir,
What kind of incetive for which the vegetable exporters are eligible for ? They cannot claim any draw back (since they did not pay any duty on inputs - the veg.produced in India only).
I was trying to find out the rule regarding the incentive. Please advise me how to claim the incentive (or the rule/notification No.) specifying that the veg. exporters are eligible for incentive.
Is it based on a percentage of turnover ?
Please advise...
What kind of incetive for which the vegetable exporters are eligible for ? They cannot claim any draw back (since they did not pay any duty on inputs - the veg.produced in India only).
I was trying to find out the rule regarding the incentive. Please advise me how to claim the incentive (or the rule/notification No.) specifying that the veg. exporters are eligible for incentive.
Is it based on a percentage of turnover ?
Please advise...
31 October 2011
for prompt reply provide RITC code of export of your item.
02 March 2012
Sir,
Sorry for the delay. Today only I received the details from my client. I tried to find out the RITC Codes, but could not. It is not available in the website. The exported items are:
Beens, Potato, Banana, Snake gourd, Currica, Yam, Banana flower, Onion,Cucumber,Pumpkin, Colocosia, Ashcod, Tindori, jackfruit and other vegetables and fruits.
He says there is a provision to get cash incentive based on the weight of the items exported. I searched the law and rules but did not find any such cash incentive scheme. There are some schemes by which duty credit scrips are available such as " Visesh Krishiand Gram Udyog Yojana".
Sir, Please help me to sort out this.
Thanks,
vinodaca74@gmail.com
Sorry for the delay. Today only I received the details from my client. I tried to find out the RITC Codes, but could not. It is not available in the website. The exported items are:
Beens, Potato, Banana, Snake gourd, Currica, Yam, Banana flower, Onion,Cucumber,Pumpkin, Colocosia, Ashcod, Tindori, jackfruit and other vegetables and fruits.
He says there is a provision to get cash incentive based on the weight of the items exported. I searched the law and rules but did not find any such cash incentive scheme. There are some schemes by which duty credit scrips are available such as " Visesh Krishiand Gram Udyog Yojana".
Sir, Please help me to sort out this.
Thanks,
vinodaca74@gmail.com
02 March 2012
YES YOU OCCURS IN ITC CODE LIST 6-13 ( VKGUY INCENTIVE ADMISSIBLE .
REGARDS,
REGARDS,
02 March 2012
Thank you Sir.
Is it a cash incentive or by way of duty credit only ?
Is it a cash incentive or by way of duty credit only ?
02 March 2012
POST SHIPMENT CREDIT PROVIDING BY DGFT.
********************************************
Pre Shipment Finance is issued by a financial institution when the seller want the payment of the goods before shipment. The main objectives behind preshipment finance or pre export finance is to enable exporter to:
* Procure raw materials.
* Carry out manufacturing process.
* Provide a secure warehouse for goods and raw materials.
* Process and pack the goods.
* Ship the goods to the buyers.
* Meet other financial cost of the business.
Types of Pre Shipment Finance
* Packing Credit
* Advance against Cheques/Draft etc. representing Advance Payments.
Preshipment finance is extended in the following forms :
* Packing Credit in Indian Rupee
* Packing Credit in Foreign Currency (PCFC)
Requirment for Getting Packing Credit
This facility is provided to an exporter who satisfies the following criteria
* A ten digit importerexporter code number allotted by DGFT.
* Exporter should not be in the caution list of RBI.
* If the goods to be exported are not under OGL (Open General Licence), the exporter should have the required license /quota permit to export the goods.
Packing credit facility can be provided to an exporter on production of the following evidences to the bank:
1. Formal application for release the packing credit with undertaking to the effect that the exporter would be ship the goods within stipulated due date and submit the relevant shipping documents to the banks within prescribed time limit.
2. Firm order or irrevocable L/C or original cable / fax / telex message exchange between the exporter and the buyer.
3. Licence issued by DGFT if the goods to be exported fall under the restricted or canalized category. If the item falls under quota system, proper quota allotment proof needs to be submitted.
The confirmed order received from the overseas buyer should reveal the information about the full name and address of the overseas buyer, description quantity and value of goods (FOB or CIF), destination port and the last date of payment.
Eligibility
Pre shipment credit is only issued to that exporter who has the export order in his own name. However, as an exception, financial institution can also grant credit to a third party manufacturer or supplier of goods who does not have export orders in their own name.
In this case some of the responsibilities of meeting the export requirements have been out sourced to them by the main exporter. In other cases where the export order is divided between two more than two exporters, pre shipment credit can be shared between them
Quantum of Finance
The Quantum of Finance is granted to an exporter against the LC or an expected order. The only guideline principle is the concept of NeedBased Finance. Banks determine the percentage of margin, depending on factors such as:
* The nature of Order.
* The nature of the commodity.
* The capability of exporter to bring in the requisite contribution.
********************************************
Pre Shipment Finance is issued by a financial institution when the seller want the payment of the goods before shipment. The main objectives behind preshipment finance or pre export finance is to enable exporter to:
* Procure raw materials.
* Carry out manufacturing process.
* Provide a secure warehouse for goods and raw materials.
* Process and pack the goods.
* Ship the goods to the buyers.
* Meet other financial cost of the business.
Types of Pre Shipment Finance
* Packing Credit
* Advance against Cheques/Draft etc. representing Advance Payments.
Preshipment finance is extended in the following forms :
* Packing Credit in Indian Rupee
* Packing Credit in Foreign Currency (PCFC)
Requirment for Getting Packing Credit
This facility is provided to an exporter who satisfies the following criteria
* A ten digit importerexporter code number allotted by DGFT.
* Exporter should not be in the caution list of RBI.
* If the goods to be exported are not under OGL (Open General Licence), the exporter should have the required license /quota permit to export the goods.
Packing credit facility can be provided to an exporter on production of the following evidences to the bank:
1. Formal application for release the packing credit with undertaking to the effect that the exporter would be ship the goods within stipulated due date and submit the relevant shipping documents to the banks within prescribed time limit.
2. Firm order or irrevocable L/C or original cable / fax / telex message exchange between the exporter and the buyer.
3. Licence issued by DGFT if the goods to be exported fall under the restricted or canalized category. If the item falls under quota system, proper quota allotment proof needs to be submitted.
The confirmed order received from the overseas buyer should reveal the information about the full name and address of the overseas buyer, description quantity and value of goods (FOB or CIF), destination port and the last date of payment.
Eligibility
Pre shipment credit is only issued to that exporter who has the export order in his own name. However, as an exception, financial institution can also grant credit to a third party manufacturer or supplier of goods who does not have export orders in their own name.
In this case some of the responsibilities of meeting the export requirements have been out sourced to them by the main exporter. In other cases where the export order is divided between two more than two exporters, pre shipment credit can be shared between them
Quantum of Finance
The Quantum of Finance is granted to an exporter against the LC or an expected order. The only guideline principle is the concept of NeedBased Finance. Banks determine the percentage of margin, depending on factors such as:
* The nature of Order.
* The nature of the commodity.
* The capability of exporter to bring in the requisite contribution.
02 March 2012
Sir,
The Duty Credit Scrips received under VKGUY are freely transfereble to anybody ?
Because he has no requirement to import anything.
The Duty Credit Scrips received under VKGUY are freely transfereble to anybody ?
Because he has no requirement to import anything.
02 March 2012
after payment released by buyer to exporter produce BRC after authentication from banker in RDGFT, will be Transferable.
Regards,
Regards,
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