Re-export of imported goods which were conditionally exempt
This query is : Resolved
04 November 2011
I have imported certain goods 3 years ago and claimed customs exemptions on a condition that it will be utilised for the said project in India for a period of 10 years.
Now i want to sell the goods at the end of the third year. Can I do so?
Section 73 speaks of Duty drawback of goods which were subject to Import Duty and is silent about exempted goods.
If I export, what will be the consequences?
Will I be liable to any penalty?
Thanks in advance...
Now i want to sell the goods at the end of the third year. Can I do so?
Section 73 speaks of Duty drawback of goods which were subject to Import Duty and is silent about exempted goods.
If I export, what will be the consequences?
Will I be liable to any penalty?
Thanks in advance...
05 November 2011
If the Central Government is satisfied that in relation to the export of any goods, the exporter or his authorised agent has, for reasons beyond his control, failed to comply with any of the provisions of these rules, and has thus been entitled to drawback, it may, after considering the representation, if any, made by such exporter or agent, and for reasons to be recorded in writing, exempt such exporter or agent from the provisions of such rule and allow drawback in respect of such goods.
in this regard, in your case appoint a CHA and initiated the work
fr any info:
http://www.eximkey.com/contents/showpage1.asp?pageid=3420
If the Central Government is satisfied that in relation to the export of any goods, the exporter or his authorised agent has, for reasons beyond his control, failed to comply with any of the provisions of these rules, and has thus been entitled to drawback, it may, after considering the representation, if any, made by such exporter or agent, and for reasons to be recorded in writing, exempt such exporter or agent from the provisions of such rule and allow drawback in respect of such goods.
in this regard, in your case appoint a CHA and initiated the work
fr any info:
http://www.eximkey.com/contents/showpage1.asp?pageid=3420
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