re-export of rented capital goods on which capital goods credit availed

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..... Imported the capital goods from sister concern (i.e. no foreign currency paid) on rental basis on payment of appropriate customs duties and availed applicable cenvat credit thereon. Re-exported the said goods without foreign proceeds with the permission of RBI. Pl guide whether cenvat credit availed are required to be reversed? - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = What is the pur .....

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..... pose of re-exporting? - Reply By shabnoor kazi - The Reply = If the capital goods re-exported with the intention that it will not again import then credit need to be reversed. and if the capital goods is intended to import again then need not to reverse provided it should be back in india within the prescribed limit. - Reply By KASTURI SETHI - The Reply = When imported goods are not in your po .....

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..... ssession, the reversal is required. No benefit of export is admissible in the situation explained. - Reply By mohammedshamim shaikh - The Reply = It was rented capital goods on which appropriate customs duties was paid . I have no ownership of the goods. Only completion of work, it was re-exported the said CG within three years from date of import. Also, no export incentives availed on re-e .....

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..... xport viz. duty drawback, etc. If CG credit requires to be reversed, pl quote the authority. I believe that there is no duty on export. But, it is also fact that no foreign proceeds made at the time import and export as well being sister concern unit. - re-export of rented capital goods on which capital goods credit availed - Query Started By: - mohammedshamim shaikh Dated:- 19-10-2018 Central .....

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..... Excise - Got 4 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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