For both supplies, you can get advance authorisation/advance authorisation for annual requirement/DFIA, deemed exports duty drawback and exemption from payment of excise duty.
The period for realisation and repatriation to India of the amount representing the full value of goods or software exported has been reduced from 12 months to nine months from the date of export, with immediate effect valid till September 30, 2013. Is it applicable for STPI units also? I ask because the RBI circular mentions SEZ units but is silent about STPI units. Besides, what is the meaning of the words 'valid till 30th September 2013'?
Presently, for status holders and EOU/STP/EHTP/BTP/SEZ units, the time limit is 12 months. For goods exported to warehouses abroad, it is 15 months. For others, it is nine months. RBI has clarified (Circular no.14 of 22.07.2013) that as the realisation and repatriation period stipulation (of 12 months) in terms of AP (DIR Series) Circular No. 52 dated November 20, 2012 was valid till March 31, 2013 only, the time period for realisation and repatriation of export proceeds from April 1, 2013 onwards till September 30, 2013, shall be reckoned as nine months from the date of export. In other words, the relaxation in time limits (beyond the normal six-month period) will be till 30.09.2013, by which date the RBI, I expect, will come out with another circular.
The payment of interest under sections 28AA and 28AB of the Customs Act 1962, relates to which situations? Does it pertain to payment of interest in case of failure to discharge export obligation under EPCG/Advance Authorisations, or is payment of interest for such defaults governed only by the related customs notification under which EPCG/Advance Authorisation was issued?
Payment of interest in case of goods cleared under exemption notifications relating to Advance/EPCG Authorisations will be governed by the provisions given in the respective notifications only. Section 28AA of Customs Act, 1962 mandates interest on delayed payment of duty but where goods are cleared at concessional duty under any exemption notification and the notifications itself contains any specific provision for payment of interest, the payment of interest has to be as prescribed in the notification. Also, you may note that there is no Section 28AB of Customs Act, 1962.
What are the goods on which excise duty is payable and who can pay this duty? Does this depend upon turnover or production quantity, or only upon luxury goods?
Excise duty has to be paid by manufacturers on moveable and marketable goods manufactured in India (other than SEZs), that are mentioned in the Central Excise Tariff. Manufacturers whose domestic clearances in the previous year did not exceed Rs 4 crore have the option to avail full exemption from duty till their domestic clearances reach Rs 1.5 crore.
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