We have bought a machine under rental and paid customs. Need to return the machine back to company. Bill of entry was filed. Procedure to return back the machine
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Re export of imported machinery
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Please explai in details
If you paid Customs duty, filed BOE and cleared the goods its a normal import, in that case you cannot claim it now as re-export.
We bought the machine on rental and full customs have been paid bill of entry filled. The rental period is over and we need to send back the machine. What is the procedure to send back the machine. Documentation needed
Sir,
Transactions on hire or lease do not constitute sales, even if an option is included in the contract to purchase the goods as per the rules. It is not clear whether you had excecuted a bond at the time of import and te contract (if any) had been filed with the customs.
You need to have prior declaration to the customs to prove that it is the same capital that is being returned to the lessor. Without following the procedures at the time of import, it may not be possible for you to now avoid it as a sale.
Normally in such cases, people do not pay customs duty at the time of import, instead a BG equivalent to the duty is executed with the customs and at the time of re-export the BG cancelled. If you have made any declarations in this regard, you might claim the refund of duty. obtain expert opinion if required.
Can you please let me know experts on customs rlated who can help me on this in Bangalore
You can call me on 9743123594
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