https://www.taxtmi.com/forum/issue?id=109832 The enquiry raises customs and tax issues for machinery imported on lease with an optional purchase: duty liability and valuation on import; customs implications of retention or purchase during/after the lease; regulatory clearance for issuing a foreign currency bank guarantee; tax treatment of lease rentals and creditability for the nonresident lessor; and recovery of duty on re export. The respondent refers to Notification No. 27/2008 CUS (amending Notification No. 27/2002 CUS) as prescribing the procedures and conditions applicable to such imports. en-us Fri, 05 Feb 2016 20:29:47 +0530 Thu, 23 Jan 2025 15:56:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109832 The enquiry raises customs and tax issues for machinery imported on lease with an optional purchase: duty liability and valuation on import; customs implications of retention or purchase during/after the lease; regulatory clearance for issuing a foreign currency bank guarantee; tax treatment of lease rentals and creditability for the nonresident lessor; and recovery of duty on re export. The respondent refers to Notification No. 27/2008 CUS (amending Notification No. 27/2002 CUS) as prescribing the procedures and conditions applicable to such imports. Discussion-Forum Customs Fri, 05 Feb 2016 20:29:47 +0530 https://www.taxtmi.com/forum/issue?id=109832