Validity period for Application of concessional rate of Duty & time extend applicable of not plz. reply

[Om Shrimali]

Dear All

 

Plz provide detail for Concessional rate of Duty for Import  Goods our application issued on 11/02/2011 & our import goods arrive on aprox  10th march 12 plz adivce me if any amendment possible for this application

[Joginder Pal]

The question is not clear as to which concessional rate of duty is referred to. In principle, the duty rate is applicable on the date of entry inward of the vessel importing the goods or the date of filing if Bill of Entry, whichever is earlier, as provided under the Section 15 of the Customs Act, 1962.

If the duty exemption is being claimed on the basis of DEEC or such similar import licence, then the licence, granting exemption of the customs duty should be valid on the date of shipment of the goods from abroad. The licence, on request and on merit can be endorsed to cover the goods already shipped by the licensing authority.

You examine your position or to clarify the question for a specific reply.- Joginder Pal

AI Summary

Customs duty applicability by date of vessel entry or bill of entry; import licences must be valid at shipment. The concessional customs duty rate applicable is the rate in force on the date of entry inward of the vessel or the date of filing of the Bill of Entry, whichever is earlier. If exemption is claimed under an import licence (such as DEEC), the licence must be valid on the date of shipment; the licensing authority may, on request and merit, endorse the licence to cover goods already shipped.