Declaration of Intent to avail benefit of Chapter 3 of FTP

[Ashok Chopra]

Dear Sir,

We being 100% EOU are exporting under Bond and self Sealing without availing any benefit as we  were availing benefit of Section 10B of Income Tax, hence Declaration of Intent to avail benefit of Chapter 3 of FTP not mentioned on Shipping Bills.  Now we have decided not to avail the benefit of Direct Tax and we are entitled to take the benefit of Chapter 3. 

How can i incorporate Declaration of Intent on Shipping Bill and to whom i should apply for the same.  Is there any time limit for the same.

Please guide me

 

regards

 

ashok chopra

[BHARAT PUROHIT]

DEAR SIRS

W E F 01/04/2011 THERE IS NO I. TAX BENEFIT FOR EOU. IT IS DISCONTINUED. U SHOULD MENTION IN S/BILL THE DECLARATION FOR AVAILING CH 3 BENEFIT.

 AT THE TIME OF APPLI, U HV TO SUBMIT C.A CERTI AS DIRECT TAX BENEFIT HAS NOT BEEN AVAILED.

THNX/ B.B.PUROHIT

AI Summary

Declaration of intent to avail Chapter 3 FTP benefits requires declaration on shipping bill and CA certificate at application. 100% EOUs wishing to avail Chapter 3 benefits must record a declaration of intent on the shipping bill and, when applying for Chapter 3 treatment, submit a Chartered Accountant's certificate confirming that direct tax benefits have not been availed; income tax benefits for EOUs were discontinued effective 01/04/2011.