Import duty exemption

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2011 My client (hotel owner) wants to import certain machinery from abroad..
The hotel has certain earnings from foreign tourists and the same are received in foreign currency.
Can he get any benefit of exemption of import duty ? If yes, then what is the procedure of claiming this benefit ? And under what law/policy is this available ?

Thanx..

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

23 April 2011 IF THEIR FOREIGN EXCHANGES EARNINGS IN PREVIOUS YEAR IS 10 LAKH , AS PER CURRENT FOREIGN TRADE POLICY, IS ELIGIBLE FOR SFIS SCHEME.

AND THIS IMPORT LICENCE IS NON TRANSFERABLE .

MY OPINION IS THAT U ASK TO THEIR CLIENT FOR APPLY THIS LICENCE SO THAT U CAN IMPORT THE ABOVE SAID ITEMS.
REGARDS,

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2011 How about the EPCG Scheme ?
For a new business entity, wont that be better ?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

23 April 2011 https://dgftcom.nic.in/exim/2000/policy/chap-05.htm

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

23 April 2011 In Case of NewComers
Copy of Sales Tax Return
Copy of Electricity Bill
Copy of Telephone Bill
Copy of Passport
Copy of Income Tax Return
Copy of Central Excise Certificate
In Case of Status Holder
Copy of Export House, Trading House
WILL REQUIRE.

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