I had a query, on which if you could share in your views I would be really grateful:
As i noticed, Notification No. 104/94 as amended by Notification No. 101/95 dated 20.5.1995 exempts the freight containers of durable nature from payment of whole of the duty of customs and the whole of additional duty payable provided the containers are re-exported within six months for which a bond is executed by the importers or the shipping agent.
My issue is that Say, a Company X registered abroad , sends it's container to India, which is brought under Landing guarantee of say Company Y, & then such Co Y sells the container on behalf of Company X to say Z, and such Y receives money from Z & remit abroad to X, is it possible for Y to collect on behalf of X( as an agent) and remit abroad, the duty implications shouldn't arise?, as Z would undertake to export out the container within said period in the notification, i.e. within 6 months
Thanking you
Raunak Agarwal
CAclubindia
