Stock and Sale authorisations for SCOMET now permit post-reporting transfers and pre-approved re-exports to specified countries. Amendments allow Indian principal companies or wholly owned subsidiaries to export eligible SCOMET items to affiliated foreign 'stockists' on the basis of an End Use Certificate and corporate relationship proof, with IMWG granting authorisations for initial export and in-principle re-export approval to specified countries. Transfers from the stockist to end users within the same country and re-exports to IMWG-approved countries do not need separate prior authorisation but require post-reporting and are subject to the stockist country's export controls; re-exports to other countries require separate DGFT application with end-user certificates and supporting documentation for IMWG verification.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Stock and Sale authorisations for SCOMET now permit post-reporting transfers and pre-approved re-exports to specified countries.
Amendments allow Indian principal companies or wholly owned subsidiaries to export eligible SCOMET items to affiliated foreign "stockists" on the basis of an End Use Certificate and corporate relationship proof, with IMWG granting authorisations for initial export and in-principle re-export approval to specified countries. Transfers from the stockist to end users within the same country and re-exports to IMWG-approved countries do not need separate prior authorisation but require post-reporting and are subject to the stockist country's export controls; re-exports to other countries require separate DGFT application with end-user certificates and supporting documentation for IMWG verification.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
