SFIS licence, Other Topics

[kartik sood]

Can SFIS licence be invalidated to a contractor ?? For eg, a company having a chain of restaurants has SFIS license worth 10 crores. This company is going for expansion and is building new restaurants. For its new restaurant it hires contractors to complete jobs like Electrical package, Plumbing package and other related jobs. According to SFIS scheme, the company who has SFIS license can buy indigenous goods without paying excise duty on the same by debiting the same against its SFIS license. Now as the work has been entrusted to a contractor, can the contractor buy material for the client against the SFIS licence of the client ??

Posts / Replies

[Dinesh Gupta]

You need to check chapter 3 of Foreign Trade Policy and Handbook of procedures on this website.