You must show the export duty amount separately in the invoice and collect the aggregate amount from the buyer (whether in one or more instalments)
Practically, it is difficult to escape payment of customs duty and interest even when the goods are destroyed or re-exported
Globally, supply is expected to ease as output in Brazil and Thailand, both major producers, is likely to revive
Funds held in the foreign currency accounts of SEZ units cannot be loaned or made available to any person or entity resident in India, not being a unit in Special Economic Zones
The ICPO referred to by you does not give you full payment security, as, say, a bank guarantee or irrevocable LC would give
Small and medium enterprises (SMEs), which account for 60-65 per cent of the health care delivery market, stand to benefit from the improvement
This is subject to submission to Customs a certificate from the local GST officer that input tax credit has not been taken, and no refund of such ITC or IGST paid on the goods has been claimed
After initiation of CIRP, the liquidator can secure the imported goods from the Customs to be dealt with appropriately in terms of the IBC
In FY22 the ITeS sector's revenue logged 13-15% growth to about Rs 3.1 tn, riding on volume recovery across the three key segments - customer relationship management (CRM), knowledge, and transactions
As a matter of rule, no evidence of actual duties suffered on imported or indigenous nature of inputs used, even if the AIR has customs portion, should be insisted upon by field formations
There is a specific box in the bill of entry for Free of Charge (FOC) imports
MSMEs, which make up 90-95 per cent of re-rollers, witnessed a sharp margin contraction in FY21 owing to iron ore unavailability, and logistics and labour issues, among other factors
The requirement of producing the space availability certificate for clearance of goods to be deposited in a bonded warehouse has been done away with
The rise in the prices of gold will also curb demand, though it will support the revenues of SMEs
SEZ units have to only achieve positive NFE and so the Customs need not demand refund of customs duty on the inputs
I suggest you claim refund of CVD, SAD and cess paid towards regularisation of the default under advance authorisation
However, national highway projects are typically executed by large contractors, with only a small proportion sub-contracted to SMEs
The duty concessions are available under exemption notifications and some of them mandate the procedures prescribed under the said IGCR Rules.
Duty credit allowed under the RoDTEP scheme is subject to realisation of sale proceeds within the period allowed by the RBI
There is no customs duty exemption for inputs used in the manufacture of capital goods in a bonded warehouse, even if they are supplied to an EPCG authorisation holder