Duty on imported goods comes under 4706 traded in india
This query is : Resolved
K Koteswara Rao
(Querist)
08 October 2013
Sir/Madam,
We possess IEC Code. We want to import certain items in Central Excise Tariff Chapter 4706 (comes under 130 items w.e.f. 01.03.2011 started with 1% duty without benefit of CENVAT) from various suitable countries and do trading in the Indian market.
Is it required to obtain central excise licence for trading, charge and pay duty. If so at what rate, i.e., 2% (without benefit of CENVAT) or 6% (with benefit of CENVAT). Please explain and clarify.
Koteswara Rao.
We possess IEC Code. We want to import certain items in Central Excise Tariff Chapter 4706 (comes under 130 items w.e.f. 01.03.2011 started with 1% duty without benefit of CENVAT) from various suitable countries and do trading in the Indian market.
Is it required to obtain central excise licence for trading, charge and pay duty. If so at what rate, i.e., 2% (without benefit of CENVAT) or 6% (with benefit of CENVAT). Please explain and clarify.
Koteswara Rao.
RAMESH KUMAR VERMA
(Expert)
08 October 2013
if you are IEC code holder then import it items
custom duty is:
https://www.icegate.gov.in/Webappl/duty_details.jsp?cth=47061000&cntrycd=
my opinion,you purchase the FPS licence from market and procure the goods 4% SAD REFUND AVAILABLE FOR YOU,
custom duty is:
https://www.icegate.gov.in/Webappl/duty_details.jsp?cth=47061000&cntrycd=
my opinion,you purchase the FPS licence from market and procure the goods 4% SAD REFUND AVAILABLE FOR YOU,
K Koteswara Rao
(Querist)
08 October 2013
Sir,
My main question whether is it required to obtain Central Excise Licence for Trading since importing product falls under tariff duty payment for home clearance. If so, what is the rate of duty.
What is meant by FPS licence ?.
Koteswara Rao
My main question whether is it required to obtain Central Excise Licence for Trading since importing product falls under tariff duty payment for home clearance. If so, what is the rate of duty.
What is meant by FPS licence ?.
Koteswara Rao
RAMESH KUMAR VERMA
(Expert)
09 October 2013
if your turnover exceed 1.50 crore then apply for registration .
for duty structure is link is above said.
focus product licence
Objective: To incentivise export of select products that have high export intensity / employment potential, thereby to offset infrastructure inefficiencies and other associated costs involved in marketing of these products.
Eligibility: Exporters of select products to all countries (see below)
Incentive: Transferable / sellable duty credit @ 2% of FOB value of exports in foreign exchange from 27.08.2009 (1.25% for prior periods)
Certain Special Focus Products / sectors such as Handicraft products are granted duty credit @ 5%.
more info:
https://www.eximguru.com/exim/dgft/exim-policy/2012-2013/chapter_1b_special_focus_initiatives.aspx
for duty structure is link is above said.
focus product licence
Objective: To incentivise export of select products that have high export intensity / employment potential, thereby to offset infrastructure inefficiencies and other associated costs involved in marketing of these products.
Eligibility: Exporters of select products to all countries (see below)
Incentive: Transferable / sellable duty credit @ 2% of FOB value of exports in foreign exchange from 27.08.2009 (1.25% for prior periods)
Certain Special Focus Products / sectors such as Handicraft products are granted duty credit @ 5%.
more info:
https://www.eximguru.com/exim/dgft/exim-policy/2012-2013/chapter_1b_special_focus_initiatives.aspx
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