Duty scripts lic of DEPB/FMS

[Guest]

DEAR ALL,

WE HAVE DUTY SCRIPTS BENEFITS LIC OF FMS/DEPB FOR DUTY FREE IMPORT

WE ARE NOT AN IMPORTER AND WILL SELL THIS LIC TO SISTER CONCERN COMPANY 

WHAT IS THE PROCEDURE AND DOCUMENTS REQUIRE?

AT THE TIME OF IMPORT WHAT DOCUMENTS SHOULD BE GIVEN BY SISTER CONCERN COMPANY FOR IMPORT THE SHIPMENT

LOOKING FORWARD TO YOUR COOPORATION PLS.

SONU PARSAD

[YAGAY andSUN]

Well, You would have to raise an Invoice to give effect of licence sale and charge the VAT as applicable.  At the time of import your sister concern has to handover this licence to your CHA along with the copy of the invoice for debiting the duties leviable for the purpose of goods to be imported.

 For further information Kindly refer the Notification No. 30/2012-CE 09.07.2012.

[Guest]

thanks for your valuable reply

we are manufacturing unit and we are Excise free zone.

kindly advise.  is there VAT applicable ?

[YAGAY andSUN]

Yes, VAT will be applicable if not specifically exemtped by the VAT authorities pursuant to Excise Free zone.

[Guest]

thanks for your valuable reply

 

also plz advise is procedure and process for getting VAT refund from Central Excise 

 

regards

Sonu Parsad.

[YAGAY andSUN]

For this you would have to check the provisions of VAT pertaining to your State and also discuss this matter with your VAT Consultant.

[Guest]

 

Dear Mr. Pradeep Khatri,

THANKS FOR YOUR VALUABLE REPLY

 

I WILL BE HIGHLY OBLIGE IF YOU SEND ME THE SAMPLE SALE INVOICE

"copy of the invoice for debiting the duties leviable for the purpose of goods to be imported."

 

THANKS FOR YOUR UNDERSTADING WAITING FOR YOUR KIND REPLY 

 

MY I D : [email protected] 

regards,

Sonu Parsad.

AI Summary

Sale of duty-credit licences requires an invoice; VAT may apply and the licence must be delivered to the customs agent. Sale of duty-credit licences must be effected by a formal sale invoice and VAT is chargeable unless specifically exempted; at import the purchaser must deliver the licence and the sale invoice to the customs house agent so duties can be debited against the licence. Issues of VAT refund or recovery depend on State VAT provisions and require consultation with a VAT specialist.