9911796707
TMI BlogMOOWR,2019X X X X Extracts X X X X X X X X Extracts X X X X ..... Below are some of the issues in relation to MOOWR, 2019 Q1. What are the transactions covered in this regulations? Q2. Is it possible to declare only one section of the factory a bonded warehouse? More importantly can we pick and choose? For example, can we say that bonded warehouse system will be used for capital goods but not for the trade goods and other daily operations? Q3. What ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is the investors liability or commitments in this regulation? - Reply By KASTURI SETHI - The Reply = Sh.Priyesh Mamnani Ji, Query-wise reply is as under :- (1) Yes. (2) Yes. Answers are contained in Circular No.484/03/2015-LC(pt.) dated 27.10.20 read with Notification No.75/20-CUS(NT) dated 17.8.20 , 36/20-Cus dated 17.8.20 . Also read Sections 58 A and 65 of the Customs Act . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) GST has to be paid on manufactured goods. More details are available in above Notifications and circular. After going through above, if you still have any doubt, post your query here. - Reply By Priyesh Mamnani - The Reply = I am importing capital goods and raw materials from outside India and both capital goods and raw materials are part of my manufacturing process. Is it possible t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat I take MOOWR benefits only for capital goods and not for raw materials or I have to include raw materials also? - Reply By KASTURI SETHI - The Reply = You have posted your cross query without going through Board's circulars and notifications Benefits are available for both capital goods and inputs. Go through Board's circular mentioned in my reply and then post query, if any doub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. FAQs are available in Board's circular. I am of the view that you are a qualified person (it appears from drafting of your query) and you have to go through all circulars and notifications mentioned above in your own interest. - Reply By Shilpi Jain - The Reply = Q1. What are the transactions covered in this regulations? - If you are into manufacturing or other operations you can g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... et into this scheme. Existence of exports is not a criteria at all Q2. Is it possible to declare only one section of the factory a bonded warehouse? More importantly can we pick and choose? For example, can we say that bonded warehouse system will be used for capital goods but not for the trade goods and other daily operations? - Yes. But you will have to demarcate your factory premises to ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve clear distinction between that part which is under MOOWR and that which is not. Q3. What is the investors liability or commitments in this regulation? - Pls go through the texts references of which are posted by Kasturi sir. Though there is no minimum investment criteria - MOOWR,2019 - Query Started By: - Priyesh Mamnani Dated:- 3-5-2021 Customs - Import - Export - Customs - SEZ - Got 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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
|
