TaxTMI 
TaxTMI 
What is the procedure to send instrument (Finished Goods) as demo, free of cost for export under LUT ?
Export Under excise
25 Feb 2014 
4 Replies 
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GR waiver required for free-of-cost exports; banker issues certificate after invoices, CA certificate, and excise compliance.
Exporting finished goods free of cost for demonstration requires a GR Waiver from the Authorized Dealer bank. Exporters must prepare three sets of invoice and packing list stating foreign remittance, obtain a CA certificate, and submit these to the bank which may issue the GR Waiver. Central Excise duty must be paid on removal and any Input Tax Credit reversed; the GR-Waiver number must be mentioned on the Shipping Bill. For return of the instrument, reimportation within three months requires furnishing the exchange control copy of the Bill of Entry to the Authorized Dealer, or if destroyed abroad, a counterpart's certificate must be provided. (AI Summary)
Exporting finished goods free of cost for demonstration requires a GR Waiver from the Authorized Dealer bank. Exporters must prepare three sets of invoice and packing list stating foreign remittance, obtain a CA certificate, and submit these to the bank which may issue the GR Waiver. Central Excise duty must be paid on removal and any Input Tax Credit reversed; the GR-Waiver number must be mentioned on the Shipping Bill. For return of the instrument, reimportation within three months requires furnishing the exchange control copy of the Bill of Entry to the Authorized Dealer, or if destroyed abroad, a counterpart's certificate must be provided. (AI Summary)