Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: empanelment :: VAT RATES :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: form 3cd :: cpt
 
 
Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016

Excise duty is not payable if imported goods are re-exported
July, 11th 2012
We are a merchant exporter. Our supplier is an importer. We have bought the imported material from them and are planning to export the same. Since we do not have Central Excise registration we requested the supplier to accept CT-1 bond and relieve us from the excise duty, to be competitive. Our supplier has Central Excise registration and says he cannot do that and cannot do it under ARE-1 too. How can we solve this issue?
Excise duty is leviable on goods manufactured or produced in India. You intend to re-export imported goods in the same form without carrying out any processing. In that case, excise duty is not leviable and therefore, the CT-1 or ARE-1 procedure need not be followed. You can claim drawback of the customs duty paid on the imported goods under Section 74 of the Customs Act, 1962. You have to follow the procedures laid down in Re-export of Imported Goods (Drawback of Customs Duties) Rules, 1995. On imported goods that have not been used after import, you can claim drawback of 98 per cent of the customs duty paid. Drawback is available provided you satisfy the Customs authorities that the goods you export are the same as the goods imported under a particular bill of entry.

Another supplier for a different product is a manufacturer with advance licence obligation. We, as a merchant exporter, have requested him to sell under CT-1 bond to us. In order to meet his export obligation he wants to know how we can do it under the duty drawback scheme. Kindly guide us.
CT-1 will enable you to remove the goods without excise duty payment from the factory of the manufacturer. It is a dispensation independent of whether the goods are exported under claim of duty drawback or in discharge of export obligation. Your supplier can ask to export the goods to be exported under DEEC cum Drawback shipping bill. By doing so, the exports can be counted towards discharge of export obligation against his advance authorisation; and in respect of duty paid materials actually used in export production but not covered by the advance authorisation, drawback can be claimed by way of brand rate fixation route. Drawback at All Industry Rate and discharge of export obligation against advance authorisation cannot be claimed against the same shipping bill. Drawback at All Industry Rate can be claimed by filing drawback shipping bill or exports can be counted towards discharge of export obligation by filing DEEC shipping bill.

Yes. However, services by a person by way of renting precincts of a religious place meant for the general public or by way of conduct of any religious ceremony is exempted under notification no. 25/2012-ST dated 20.06.2012, which also says that general public means the body of people at large sufficiently defined by some common quality of public or impersonal nature.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions