Destruction of obsolete imports: destruction with Customs permission can relieve full customs duty subject to procedural compliance. Whether imported raw materials and components rendered obsolete may be destroyed without paying customs duty where the unit obtains Customs permission and ... Summary
Destruction of obsolete imports: destruction with Customs permission can relieve full customs duty subject to procedural compliance.
Whether imported raw materials and components rendered obsolete may be destroyed without paying customs duty where the unit obtains Customs permission and offers to pay duty on scrap value; reliance was placed on the Foreign Trade Policy, Circular No. 60/1999 Cus and an amendment to the governing Notification which exempts duty when goods are destroyed with Customs' permission, balanced against the Revenue's contention that non use within prescribed time attracts duty.
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TaxTMI 
TaxTMI 
