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TMI BlogDTA supplied goods at SEZ - Order receive in US $X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear sir, We are the manufacturing of Chemical products and export to various countries . We will be receiving one order for supply at SEZ unit in US $ . Can we supply our chemical product to SEZ and receive an amount in foreign currency . Kindly suggest in this matter . Regards, SNE - Reply By KASTURI SETHI - The Reply = Sir, Answer is Yes. - Reply By CS SANJAY MALHOTRA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - The Reply = Dear Snehal, YES, As SEZ is considered as foreign land. Physical exports in respect to supply to foreign countries are eligible for Duty drawback and similarly supplies to SEZ also qualified for Duty drawback if the payment receives in foreign currency. - Reply By CS SANJAY MALHOTRA - The Reply = Dear Snehal, Yes, SEZ is considered as foreign land and there is no retsriction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in realising Free Foreign Exchange. Furthermore, Physical exports in respect to supply to foreign countries are eligible for Duty drawback and similarly supplies to SEZ also qualifies for Duty drawback if the payment is received in foreign currency. - Reply By YAGAY AND SUN - The Reply = Please check Rule 30 of the SEZ Rules and adherence with the compliance mentioned in it. You would also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... need to file Bill of Export for getting the Duty Drawback. - Reply By Kishan Barai - The Reply = SEZ, Not only foreign currency, you can also realize the amount in INR as well, still it would be considered as exports you will get all incentives like DBK. Thank You - Reply By Kishan Barai - The Reply = Oh, I am sorry. You can not get DBK if you supply in INR to SEZ Actually, Industry bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dy Assocham has urged the Centre to extend drawback benefits in Special Economic Zones (SEZs) against payment in rupees for encouraging units to procure from domestic suppliers and ensure that they are able to maintain export competitiveness. Thank You - Reply By CS SANJAY MALHOTRA - The Reply = Dear Kishan ji, My submission would be to rely on Notifications, Circulars instead of News which is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 years old....This suggestion is as you are one of expert members in this forum, where querist rely on submissions. - Reply By KASTURI SETHI - The Reply = Sh.CS Sanjay Malhotra Ji, Yes, Sir. Rightly advised. Anyone who commits mistake on this public forum whether knowingly or unknowingly his reputation is dented (including me.) So one has to be very very caref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ul and alert before posting opinion on this forum. Incorrect reply brings discredit to TMI also. When the die is cast, no possibility of making up the loss. - Reply By Kishan Barai - The Reply = First of all I would like to tell sorry to entire TMI members experts, actually I made a mistake but corrected it before anyone could find. Sorry to all once again. I do provide answers based ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on latest notification, circular, government publication, etc. But as a human I made a mistake. Cordially Yours, Kishan Barai - Reply By KASTURI SETHI - The Reply = Sh.Krishan Barai Ji, Sir, I agreed with you in toto. Nobody is perfect. Despite utmost care, we are prone to commit mistakes. So pl. close the chapter. When we rectify our mistake, the concept becomes clear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the querist. Confusions stand removed in the querist's mind. 'Disclaimer Certificate' on this forum serves as a shield for experts, not as luxury. I think so. Whatever I feel I share with all in positive and humble way, rather, I would call in sportsman spirit. I hope that you agree with me. - Reply By Kishan Barai - The Reply = Yes Sir. - DT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A supplied goods at SEZ - Order receive in US $ - Query Started By: - SNEHAL SHAH Dated:- 26-8-2016 Customs - Import - Export - Customs - SEZ - Got 11 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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