Capital item in Indian currency or U$

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..... Capital item in Indian currency or U$
Query (Issue) Started By: - Narasimha Subramanian Dated:- 23-11-2006 Last Reply Date:- 20-12-2006 Customs - Exim - SEZ
Got 2 Replies
Customs
One of o .....

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..... ur customers want to procure a capital item under EPCG scheme. We are importing this item from our Principals in US and selling to this customer as High Sea Sales. Can we sell to him in Indian Rupees .....

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..... or is it mandatory that the transaction should be in US$? Please clarify Reply By Surender Gupta: The Reply: There is no condition that the proceeds against High Sea sale must be paid in foreign exch .....

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..... ange to avail the exemption under EPCG scheme. Your customer is still eligible for exemption. Reply By JAYASANKAR V: The Reply: You can sell the Capital goods sourced from your US based Principal, on .....

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..... high sea sales basis to your Customer holding EPCG Licence and you can charge / bill him in Indian Rupees for the cost of Capital goods adding your margin of Profit, which will be the basis for assess .....

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..... ment of import duty from the EPCG Licence holder. SHRI JAYASANKAR. V. [email protected]
Discussion Forum - Knowledge Sharing .....

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