Advance Licence , Customs - Exim - SEZ

[sonu parsad]

Dear All,

Kindly let me know the advance licence utilization.

Thanks 

Sonu Parsad

Posts / Replies

[Pradeep Khatri]

The scheme for Advance Authorization (earlier known as Advance License) has been mentioned in the Chapter 4 of the Foreing Trade Policy 2009-2014.

An application is requried to be sumbitted to regional authority (RA) of the cocerned DGFT's Office.  Advance authorization can be used for importation of inputs/rawmaterial/components without payment of customs duties for the purpose of export of finished goods for fulfilment of export obligation within three year (or within extended period) either to SEZ etc or to foreign parties.  Thereafter, such authorizatio will be redeemed by the concerned DGFT.

For details please check the FTP and HBP VOl.1 

[sonu parsad]

thanks for your valuable reply

[sonu parsad]

Industrial licence is must or without indusrial lic , I can apply the advance licence

[Pradeep Khatri]

If you are running an Industry, then, you would have applied and obtained for IEM through SIA.

[sonu parsad]

Thanks for your valuable reply

 

what is difference bewteen an Industry or Public Ltd company

 

Thanks 

[Pradeep Khatri]

What is Industry?

Meaning

The production side of business activity is referred as industry. It is a business activity, which is related to the raising, producing, processing or manufacturing of products.

The products are consumer's goods as well as producer's goods. Consumer goods are goods, which are used finally by consumers. E.g. Food grains, textiles, cosmetics, VCR, etc. Producer's goods are the goods used by manufacturers for producing some other goods. E.g. Machinery, tools, equipments, etc.

Expansion of trade and commerce depends on industrial growth. It represents the supply side of market.

 Classification / Types of Industries

 There are various types of industries. These are mentioned as follows :-

 1. Primary Industry

Primary industry is concerned with production of goods with the help of nature. It is a nature-oriented industry, which requires very little human effort. E.g. Agriculture, farming, forestry, fishing, horticulture, etc.

 2. Genetic Industry

Genetic industries are engaged in re-production and multiplication of certain spices of plants and animals with the object of sale. The main aim is to earn profit from such sale. E.g. plant nurseries, cattle rearing, poultry, cattle breeding, etc.

 3. Extractive Industry

 Extractive industry is concerned with extraction or drawing out goods from the soil, air or water. Generally products of extractive industries come in raw form and they are used by manufacturing and construction industries for producing finished products. E.g. mining industry, coal mineral, oil industry, iron ore, extraction of timber and rubber from forests, etc.

4. Manufacturing Industry

Manufacturing industries are engaged in transforming raw material into finished product with the help of machines and manpower. The finished goods can be either consumer goods or producer goods. E.g. textiles, chemicals, sugar industry, paper industry, etc.

 5. Construction Industry

 Construction industries take up the work of construction of buildings, bridges, roads, dams, canals, etc. This industry is different from all other types of industry because in case of other industries goods can be produced at one place and sold at another place. But goods produced and sold by constructive industry are erected at one place.

 6. Service Industry

In modern times service sector plays an important role in the development of the nation and therefore it is named as service industry. The main industries, which fall under this category, include hotel industry, tourism industry, entertainment industry, etc.

7. Film Indstry

The Hon'ble Finance Minister vide his budget speech, has given the industry status to Indian Film Industry

A public limited company is a voluntary association of members which is incorporated and, therefore has a separate legal existence and the liability of whose members is limited. Its main features are :-

The company has a separate legal existence apart from its members who compose it.

 

Its formation, working and its winding up, in fact, all its activities are strictly governed by laws, rules and regulations. The Indian Companies Act, 1956 contains the provisions regarding the legal formalities for setting up of a public limited company. Registrars of Companies (ROC) appointed under the Companies Act covering the various States and Union Territories are vested with the primary duty of registering companies floated in the respective states and the Union Territories.

 A company must have a minimum of seven members but there is no limit as regards the maximum number.

 The company collects its capital by the sale of its shares and those who buy the shares are called the members. The amount so collected is called the share capital.

 The shares of a company are freely transferable and that too without the prior consent of other shareholders or without subsequent notice to the company.

 The liability of a member of a company is limited to the face value of the shares he owns. Once he has paid the whole of the face value, he has no obligation to contribute anything to pay off the creditors of the company.

 The shareholders of a company do not have the right to participate in the day-to-day management of the business of a company. This ensures separation of ownership from management. The power of decision making in a company is vested in the Board of Directors, and all policy decisions are taken at the Board level by the majority rule. This ensures a unity of direction in management.

 As a company is an independent legal person, its existence is not affected by the death, retirement or insolvency of any of its shareholders.