Export promotion credit
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 !
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.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- Copyright software
- SFT Cash Deposit in Current Account
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
