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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Specified Profession
- STCG FOR GOLD ETFs
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
