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
Guidance Sought for Selling Duty Scripts: VAT Applicability and Documentation Under DEPB/FMS for Duty-Free Imports A user inquired about the procedure and documentation required to sell duty scripts under DEPB/FMS for duty-free import to a sister company, as they are not importers themselves. An expert advised raising an invoice and charging VAT, unless exempted, and mentioned the need for the sister company to present the license and invoice to the customs house agent during import. The user, operating in an excise-free zone, sought clarification on VAT applicability and refund procedures. The expert recommended consulting state-specific VAT provisions and a VAT consultant. The user also requested a sample sale invoice for further guidance. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
