Procurement of capital goods without payment of excise duty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 September 2015
My Friend is a paper manufacturer on which he pays a duty of 2% on manuffactured goods. Now he is purchasing a machinery for 60 Lakhs on which he has to pay 7.5 Lakhs of Excise duty which he can't claim Input.
Is there any scheme for him to get any drawback or refund if he exports the finished goods ?
Is there any scheme for him to get any drawback or refund if he exports the finished goods ?
Rajesh Kumar
(Expert)
13 September 2015
If he is an exporter, he can take EPCG license, get it invalidated in favour of Indian manufacturer. This way he can save some Excise duty. Off course he will need to fulfill export obligations.
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