Page 31 - Tnc Rajagopalan

'No bar on second-hand capital goods import under project import regulations'

You may obtain the permission of your Assistant/Deputy Commissioner of Central Excise to clear the scrap on duty payment from the job-worker's factory, in accordance with Rule 4(6) of Cenvat Credit Ru

'Supplies to EOUs or projects through bidding qualify for duty drawback'

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

Not enough to revive SEZs?

'Providers of services to clients abroad must pay service tax'

Supplies to World Bank-funded projects are eligible for deemed export benefits if the supply is against international competitive bidding

'SHIS can be used to regularise default under advance authorisation scheme'

As per Para 9.35 of FTP, a "managed hotel" means hotels managed by a three star or above hotel/ hotel chain under an operating management contract for a duration of at least three years between the op

Exchange rate issues in export

Ease duty payback for benefit of exporters

'No bar on using SHIS scrip to pay duty on imported second-hand capital goods'

You may ask your bank to issue a certificate regarding the exchange rate prevalent on the date you received the inward remittance from your customer

New tax refund norms for specified services

The earlier notification (now superseded) allowed such ab initio exemption of tax on services wholly consumed within the SEZ

Promising move to hasten clearances

'Sub-agents of travel agents who don't earn forex are not entitled to SFIS'

Your services as sub-agent of a travel agent will not entitle you to SFIS, where you do not earn any foreign currency

Do a better job in drafting rules

Recent changes in export rules

'Deemed export benefits available for supply of goods, not service deals'

Bank payment obligations vital for international trade

Time for importers, exporters to get familiar with the new international transaction mechanism

Positive change for domestic sector

'No provision for refunding unutilised credit on account of deemed exports'

Commerce ministry takes steps to help exporters

Ministry's initiatives encourage exporters, but RBI's reduction of time limit for realisation of export proceeds will increase paperwork

Convoluted phrasing complicates policy

There was a specific Para 8.7 excluding supplies to non-mega power projects from deemed export benefits

'No import duty cut merely because importer is SSI unit'