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This query is : Resolved
12 May 2015
Dear Experts,
We are into restaurant business and certain Foreign Cards of Guest were swiped in our outlets.
We are now Importing Capital Goods for outlet.
We have a question that whether we can get concessional rate of duty on Imports of capital goods due to the Foreign Exchange earnings we generate through Foreign Cards of Guest.
Thanks !
We are into restaurant business and certain Foreign Cards of Guest were swiped in our outlets.
We are now Importing Capital Goods for outlet.
We have a question that whether we can get concessional rate of duty on Imports of capital goods due to the Foreign Exchange earnings we generate through Foreign Cards of Guest.
Thanks !
Vishrut Shah
(Expert)
12 May 2015
No it is not possible for you to claim benefit for capital goods since the amount swiped in you restaurant was through foreign card but payment was made in Indian rupees only and also that benefit is only available if you are into manufacturing of goods.
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