The document summarizes various export promotion incentives and policies available to Indian exporters, including tax exemptions, duty drawbacks, import concessions, and special economic zones. It discusses sales tax/VAT exemptions, excise exemptions, duty drawback rates, income tax concessions, import concessions like the Export Promotion Capital Goods Scheme and Duty Free Import Authorization Scheme, and special zones like Special Economic Zones, Export Oriented Units, and Software Technology Parks that provide tax holidays and other benefits.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the types customs duty levied and the duty drawback allowed under the customs law.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the types customs duty levied and the duty drawback allowed under the customs law.
The FEMA (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA)
FEMA came into act on the 1st day of June,2000
49 sections in the Act.
Inline image 1
WORLD TRADE SERVICES
Advisory & Consultancy for Export & Import Incentives
WTSā¦.is Emerging Export Import Consultancy Firm Promoted by Experienced & Expert Foreign Trade Consultant and Advocate.
WTS offer a prompt and hassle free Import Export Consultancy work like Import Export Documentation, Custom Clearance, Fema Cases, Freight Forwarding and DGFT Applications i.e. IEC/VKUY/ FMS/FPS/MIES/EPCG/DFIA /EXPORT HOUSE/100% EOU/SEZ/ APPROVAL/NORMS FIXATION and APEAL CASES.
WTS handle all comprehensive paper work with ATMOST CARE and provide Excellent/ valuable Services on Export Import Matters to our valued clients. We strive hard to ensure prompt execution of all necessary documents and formalities as per current EXIM POLICY. Through proper and professional approach we save our clients TIME and MONEY and Control Hidden Cost/Overhead Expenses.
We have Design SMS/Email System to update clients of their day to day paper works and DGFT Applications status.
Our Result Oriented Excellent EXIM Consultancy Services lead us a Emerging Export Import Consultancy Firm in India.
WTS is active Player in DUTY FREE IMPORT LICENCE Sale/Purchase having tie-up with leading Exporters - Importers for Buying and Selling DEPB/VKUY/FMS/FPS&DFIA Licences at Best Competitive Market Premium.
Inline image 3
OUR SERVICES
IEC ā Import Export Code
RCMC - REGISTRATION & EXPORT COMPANY SET-UP
VKGUY License ā Vishesh Krishi and Gram Upaj Yojana
FMS License - Focus Market Scheme
FPS License ā Focus Product Scheme
MLFPS Licence - Market Linked Focus Products Scheme
MEIS Licence - Merchandise Export from India Scheme
EPCG License ā Export Promotion Capital Goods
DFIA License ā Duty Free Authorisation
ADVANCE AUTHORISATION SCHEME
EXPORT HOUSE CERTIFICATE
OTHER SERVICES
- AGRI. INFRASTRUCTURE INCENTIVE SCRIP.
- SEZ APPROVAL.
- ISO 9000/ISO 14000.
- D.S.C.: E-TOKEN INSTALLATION AND RENEWAL.
- CUSTOM CLEARANCE.
- FREIGHT FORWARDING & CHARTERING.
- IMPORT SOURCING.
- JOINT VENTURE.
OBJECTIVE
Customs duty is an indirect tax, which is a tax on the goods and not a tax on the person having or owning the goods. Custom Duty is valued based either on specific duty or Ad valorem. In this webinar, we will be understanding the provisions of Valuations under Customs Duty.
The FEMA (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA)
FEMA came into act on the 1st day of June,2000
49 sections in the Act.
Inline image 1
WORLD TRADE SERVICES
Advisory & Consultancy for Export & Import Incentives
WTSā¦.is Emerging Export Import Consultancy Firm Promoted by Experienced & Expert Foreign Trade Consultant and Advocate.
WTS offer a prompt and hassle free Import Export Consultancy work like Import Export Documentation, Custom Clearance, Fema Cases, Freight Forwarding and DGFT Applications i.e. IEC/VKUY/ FMS/FPS/MIES/EPCG/DFIA /EXPORT HOUSE/100% EOU/SEZ/ APPROVAL/NORMS FIXATION and APEAL CASES.
WTS handle all comprehensive paper work with ATMOST CARE and provide Excellent/ valuable Services on Export Import Matters to our valued clients. We strive hard to ensure prompt execution of all necessary documents and formalities as per current EXIM POLICY. Through proper and professional approach we save our clients TIME and MONEY and Control Hidden Cost/Overhead Expenses.
We have Design SMS/Email System to update clients of their day to day paper works and DGFT Applications status.
Our Result Oriented Excellent EXIM Consultancy Services lead us a Emerging Export Import Consultancy Firm in India.
WTS is active Player in DUTY FREE IMPORT LICENCE Sale/Purchase having tie-up with leading Exporters - Importers for Buying and Selling DEPB/VKUY/FMS/FPS&DFIA Licences at Best Competitive Market Premium.
Inline image 3
OUR SERVICES
IEC ā Import Export Code
RCMC - REGISTRATION & EXPORT COMPANY SET-UP
VKGUY License ā Vishesh Krishi and Gram Upaj Yojana
FMS License - Focus Market Scheme
FPS License ā Focus Product Scheme
MLFPS Licence - Market Linked Focus Products Scheme
MEIS Licence - Merchandise Export from India Scheme
EPCG License ā Export Promotion Capital Goods
DFIA License ā Duty Free Authorisation
ADVANCE AUTHORISATION SCHEME
EXPORT HOUSE CERTIFICATE
OTHER SERVICES
- AGRI. INFRASTRUCTURE INCENTIVE SCRIP.
- SEZ APPROVAL.
- ISO 9000/ISO 14000.
- D.S.C.: E-TOKEN INSTALLATION AND RENEWAL.
- CUSTOM CLEARANCE.
- FREIGHT FORWARDING & CHARTERING.
- IMPORT SOURCING.
- JOINT VENTURE.
OBJECTIVE
Customs duty is an indirect tax, which is a tax on the goods and not a tax on the person having or owning the goods. Custom Duty is valued based either on specific duty or Ad valorem. In this webinar, we will be understanding the provisions of Valuations under Customs Duty.
The success of export promotions can be judged from the growth of exports and the dynamism of the export sector. An effective export promotion should compensate for the disadvantages of the national exporters and should make the export business profitable enough to lure entrepreneurs to this sector.
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Foreign Trade Policy is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. The Government of India, Ministry of Commerce and Industry announces Export Import Policy every five years.
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1. Export Promotion and Incentives
INTERNATIONAL MARKETING
MARZIEH ARIANFAR
BIMS-UNIVERSITY OF MYSORE
APRIL 2013
2. The various incentives/exemptions available
to exporters in India :
ļ¶ Sales Tax/VAT Exemption
ļ¶ Excise Exemption
ļ¶ Duty Drawback
ļ¶ Income Tax Concessions
ļ¶ Import Concessions
ļ¶ Special Economic Zones
ļ¶ Free Trade & Warehousing Zones
ļ¶ Star Export Houses
ļ¶ EOUs(Export Oriented Units), Electronic Hardware Technology Parks(EHTPs), Software Technology
Parks(STPs),Bio-Technology Parks(BTPs)
ļ¶ Deemed Exports
3. Sales Tax/VAT Exemption
VAT at zero rate and full credit of input tax is also available to a
dealer directly selling to an exporter provided the same goods are
actually exported.
- The exporter needs to provide the following documents as evidence of
goods exported:
ļµ Copy of export contract or order from a foreign buyer
ļµ Copy of the customs clearance certificate
ļµ Copy of the commercial invoice issued to the foreign buyer
ļµ Copy of Bill of Lading/Air-Way Bill
ļµ Proof of payment from the foreign purchaser or letter of credit
4. ā H ā form
ļ± The exporter can make use of 'H Forms'
supplied by the CST (Central Sales Tax)
authorities that are being continued even now
in the VAT regime.
- The application has to be supported by the
following documents:
ļµ Copy of Customs Certified Shipping Bill
ļµ Copy of Customs Certified Invoice
ļµ Copy of Letter of Credit
ļµ Copy of Confirmed Export Order
ļ± The supplier, on the other hand, can
submit the following documents with his VAT
return to justify zero rating of his particular
sale to the exporter:
ļµ Purchase order from exporter.
ļµ Form 'H'.
ļµ Copy of Bill of Lading/Air-Way Bill
5. Excise Exemption
Excise is a tax on production or manufacture of goods. It is a duty levied
on the production of goods and the liability of payment of excise duty arises
immediately upon manufacture of goods. In India, excise duty is governed by
the provisions of the Central Excise Act, 1944.
- Exporters can avail excise clearance in the following ways:
ļµ Exports under Claim of Excise Rebate
ļµ Export under Bond
6. Procedure for Filing the Rebate Claim
and its Sanction
1. Application in the prescribed form
2. Duplicate copy of ARE-I/ARE-II in sealed cover received from Customs Officer
3. Duly attested copy of Bill and Lading
4. Duly attested copy of shipping bill (export promotion copy)
5. Original copy of duly ARE-I/ARE-II duly endorsed by the Customs Officer
certifying the export of the consignment
6. disclaimer certificate in case where the claimant is other than the exporter.
- Export under Bond
Under Rule 19 of Central Excise Rules, an exporter is permitted to remove
excisable goods for export without payment of excise duty by executing a bond
(legal undertaking) in favor of the excise authorities for the amount of the excise
duty payable.
7. Duty Drawback
Duty drawback is an incentive given to the exporters of different categories
of goods under the ā Customs and Central Excise Duty Drawback Rules,
1995ā The duty drawback scheme is administered by the Directorate of Duty
Drawback in the Ministry of Finance, Government of India.
-There are two types of drawback rates:
ļµ All Industry Rates
ļµ Brand/Special Brand Rates
8. Income Tax Concessions
ļµ Under Section 10A of the Income Tax Act, 1961 undertaking
operating from a Special Economic Zone (SEZ ) that manufactures
articles/things or computer software are eligible for deduction of
export profits. For undertaking commencing operation from the
notified Special Economic Zones (SEZs) on or after 1st April, 2002,
the tax holiday is available for a total period of seven assessment
years, comprising of a deduction of 100% of export for five years
followed by deduction of 50% of export profits for subsequent two
years.
9. Import Concessions
The Government of India has several schemes in place that allow the
exporters to import inputs/ capital goods at concessional rates of import duty.
The schemes are discussed below:
ļµ Export Promotion Capital Goods Scheme (EPCG)
ļµ Duty Free Import Authorization Scheme
ļµ Duty Exemption Passbook Scheme (DEPB)
10. Export Promotion of Capital Goods Scheme
(EPCG)
what are capital goods?
ļµ Capital goods are the things you need ,in order to manufacture your products or give your
services.(including spares for pre production, production and post production)
Examples: Textile machines, big agro-harvesting vehicles, expensive lab instruments for
medicines, printing press for magazine/newspaper, sophisticated computer-server for your call
center etc.
What is Export Promotion Capital Goods Scheme? (EPCG)
ļµ Under EPCG scheme, you can import these instruments (capital goods) at only 5% customs duty
(some times zero duty). But it is subject to an export obligation ranging from 6 to 8 times of duty
saved on capital goods imported under EPCG scheme, to be fulfilled in 6 to 8 years reckoned
from Authorization issue-date.
ļµ This EPCG is part of Indiaās EXIM policy (Export-import)
11. Duty Free Import Authorization Scheme
This scheme is the latest improvement announced in the Annual Supplement 2006 to the FTP 2004-09. The
new scheme seeks to clubs the Advance Licensing scheme and the Duty Free Replenishment Certificate and
were to come into effect from May 1, 2006.
- Advance License can be issued for the following:
ļµ Physical exports
ļµ Intermediate supplies
ļµ Deemed exports
- An Advance License contains:
1. The names and description of items to be imported and exported/supplied.
2. The quantity of each item to be imported or wherever the quantity cannot be indicated, the value of
the item shall be indicated
3. The aggregate CIF value of imports.
4. The FOB/FOR value and quantity of exports/supplies.
12. Duty Entitlement Passbook (DEPB) Scheme
ļµ Under DEPB (Duty Entitlement Passbook) Scheme, exporters are allowed to claim
customs duty credit as a specified percentage of FOB value of exports made in freely
convertible currency. The objective of DEPB is to neutralize the incidence of Customs
duty on the import content of the export product. The neutralization shall be provided
by way of grant of duty credit against the export product.
ļµ The scheme launched in 1997 is likely to be replaced by some superior alternative that
is being worked out through a dialogue with the export community. Under the DEPB.
ļµ The DEPB is valid for a period of 24 months from the date of issue.
13. Information Technology
ļµ Strong telecommunication backbone
ļµ A unique work environment that powers the city
ļµ Optic-fiber cable network
ļµ On-site sub-station for failsafe power
ļµ Rail station onsite to provide for easy cost effective transport options
ļµ Pollution-free, clean and green environment
14. Special Economic Zones
ļµ In order to create an internationally competitive and smooth
working environment for exports in India, the Government of India
formulated the Special Economic Zone policy on 1/4/2000. Under
the current foreign trade policy, Special Economic Zone (SEZ) is
defined as a specifically delineated duty free enclave that is
deemed to be foreign territory for the purposes of trade operations
and duties and tariffs. Goods and services going into the SEZ area
from DTA (Domestic Tariff Area) are to be treated as exports and
goods coming from the SEZ area into DTA are to be treated as
imports.
15. The following facilities/incentives are available to units in SEZs:
ļ§ No license required for import.
ļ§ Exemption from customs duty on import of capital goods, raw materials, consumables, spares
etc.
ļ§ Supplies from DTA (Domestic Tariff Area) to SEZ units treated as deemed exports.
ļ§ Reimbursement of Central Sales Tax paid on domestic purchases.
ļ§ 100% income tax exemption for a block of five years, 50% tax exemptions for two years and up
to 50% of the profits ploughed back for the next three years under Section 10-A of Income Tax
Act.
ļ§ SEZ units may be for manufacturing, trading or service activity.
ļ§ SEZ unit to be positive net foreign exchange earner within three years.
ļ§ 100% Foreign Direct Investment in manufacturing sector allowed through automatic route,
barring a few sectors.
ļ§ Facility to realize and repatriate export proceeds within 12 months. cContā¦
16. ļ§ Facility to retain 100% foreign exchange receipts in EEFC(exchange earnerās foreign currency)
Account.
ļ§ Re-export imported goods found defective, goods imported from foreign suppliers on loan
basis etc.
ļ§ Domestic Sales on full duty subject to import policy in force.
ļ§ No fixed wastage norms.
ļ§ Full freedom for sub-contracting including sub-contracting abroad.
ļ§ Job work on behalf of domestic exporters for direct export allowed.
ļ§ No routine examination by Customs of export and import cargo.
ļ§ No separate documentation required for Customs and Exim Policy.
ļ§ In-house customs clearance.
ļ§ Support services like banking, post office clearing agents etc.
17. Free Trade and Warehousing Zones
The units functioning out of such zones will be extended from:
ļµ Income Tax Exemption as per Section 80-IA of the Income Tax Act
ļµ Exemption from Service Tax
ļµ Free foreign exchange currency transactions
ļµ Other benefits as applicable to units in Special Economic Zones
18. Star Export Houses
-Under the current foreign trade policy Merchants as well as Manufacturer exporters, service providers, Export
Oriented Units (EOUs),and Units located in Special Economic Zones(SEZs),Agri Export Zone(AEZs),
Electronic Hardware Technology Parks(EHTPs), Software Technology Parks(STPs),Bio-Technology
Parks(BTPs) are eligible for applying for status as Star Export Houses.
ļµ They are allowed license/certificate/permissions and Customs clearances for both imports and
exports on self-declaration basis.
ļµ Fixation of Input-Output norms on priority within 60 days.
ļµ They are allowed exemption from compulsory negotiation of documents through banks. The
remittance, however, needs to be received through banking channels.
ļµ 100% retention of foreign exchange in EEFC account.
ļµ They are permitted enhancement in normal repatriation period from180 days to 360 days.
ļµ They are entitled for consideration under the Target Plus Scheme.
ļµ They enjoy exemption from furnishing of Bank Guarantee in schemes under the foreign trade policy.
19. Deemed Exports
ļ¶ Supply of goods against Advance License/Advance License for annual requirement.
ļ¶ Supply of goods to Export Oriented Units.
ļ¶ Supply of capital goods to holders of licenses under the Export Promotion Capital Goods (EPCG)
scheme.
ļ¶ Supply of goods to projects financed by multilateral or bilateral agencies.
ļ¶ Supply of capital goods, including in unassembled/disassembled condition as well as plants,
machinery, accessories, tools, dyes.
ļ¶ Supply of goods to any project or purpose in respect of which the Ministry of Finance.
ļ¶ Supply of goods to the power projects and refineries not covered in (vi) above.
ļ¶ Supply of marine freight containers by 100% EOU.
ļ¶ Supply to projects funded by UN agencies.
ļ¶ Supply of goods to nuclear power projects through competitive bidding as opposed to
International Competitive Bidding.
Contā¦.
20. Deemed exports are allowed the following
privileges:
ļµ Advance License for intermediate supply/deemed export / DFRC (Duty Free
Replenishment Certificate) / DFRC for intermediate supplies
ļµ Deemed Export Drawback
ļµ Exemption from terminal excise duty where supplies are made against International
Competitive Bidding. In other cases, refund of terminal excise duty will be given.