Page 2 - Chatroom

GAEC application for SCOMET items: Exporter must have trust in end user

Para 10.16 A.II.b.ii says that the applicant exporter is required to declare that the items that are intended to be exported shall not be used for any purpose other than the purpose(s) stated

Chatroom: Individuals can get up to $250,000 forex for their foreign trips

Para 6.07(a) allows sale in DTA without any limit for EOUs in sectors other than gem and jewellery and services, so long as you achieve positive NFE

CHATROOM: Merchanting trade transactions must be completed within 9 months

TNC Rajagopalan answers SME queries related to GST, export and import matters

'EPCG: Doubts persist over maintaining annual average exports of services'

TNC Rajagopalan answers SME queries related to GST, export and import matters

CHATROOM: 'CBIC should tweak legal provisions for SEZ to DTA sales'

Firstly, it is not correct to say that the B/E is filed on the basis of the proforma invoice

CHATROOM: 'DGFT should resolve contrary provisions in FTP, HBP quickly'

DGFT Policy Circular no. 11(RE-01)/2001-02 dated 1.10.2001 had clarified that the annual average exports should be maintained till the export obligation is completed

Chatroom: 'Interest can be claimed on delayed payment of drawback'

You can claim interest on the pre-deposit amount in accordance with Section 129EE of the Customs Act, 1962

Chatroom: Denial of ITC on inter-state transfer of duty-free goods unfair

'The testing requirement will apply for exports to all countries, without exception'

CHATROOM: Exports on CIF terms attract IGST on CIF value, says expert

The Commerce Ministry introduced Para 2.43 on "merchanting trade" in the recently released Foreign Trade Policy 2023

Chatroom: EO fulfilment can start from date of issue of EPCG authorisation

'You can export goods capable of being manufactured by the use of capital goods imported under the EPCG scheme'

'DGFT should clarify duty payment for destruction of imported goods'

Practically, it is difficult to escape payment of customs duty and interest even when the goods are destroyed or re-exported

SME Chatroom: 'IGCR Rules apply only when exemption notifications say so'

the duty concessions are available under exemption notifications and some of them mandate the procedures prescribed under the said IGCR Rules.

'Supplies from DTA to SEZ attract export duty'

Duty credit allowed under the RoDTEP scheme is subject to realisation of sale proceeds within the period allowed by the RBI

There is no provision to take credit of the agriculture infra cess: Expert

This should not matter much because wherever AIDC has been imposed, the basic customs duty (BCD) or excise duty has been reduced, and in any case

'Export incentives available on rupee payment through Vostro account'

That PN does not extend the first block or final EO period. It only relaxes the period within which you can ask for extension of first block or final EO period.

'Value of goods cleared from SEZ to DTA must follow Customs laws'

Exported goods can be re-imported and you can make payment against the re-import

'Duty-paid goods can be brought to factory; cenvat credit allowed'

Remission of duty allowed when goods are claimed by manufacturer as unfit for consumption or for marketing