Respected sir,
We are importing raw material under concessional rate of duty and also under advance license for manufacturing of our cable product
Here my query is in case of export can we avail benefits of advance license even if raw material consumed is of goods imported under concessional rate of duty.
regards - Keyur Goswami
Mixing Concessional Duty Import and Advance License Schemes for Cable Exports Discouraged Due to Audit Risks and IGST Issues. A user inquired about the possibility of utilizing benefits from both the concessional duty import scheme and the advance license scheme for exporting cable products. Respondents advised against mixing the two schemes, highlighting potential issues with convincing authorities and audits. One respondent clarified that no formal notification exists on this matter, suggesting that overlapping schemes could lead to complications. Additionally, the user asked about supplying finished goods to solar projects or government bodies at a reduced GST rate, which was deemed not permissible. Another response emphasized that both schemes should not be used simultaneously, especially regarding IGST implications. (AI Summary)
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